Former Finance Minister P Chidambaram and his son Karti Chidambaram. Photo/ANI
Former Finance Minister P Chidambaram and his son Karti Chidambaram. Photo/ANI

Chidambaram, his son get protection from arrest in Aircel Maxis case till April 26

ANI | Updated: Mar 25, 2019 18:57 IST

New Delhi [India], Mar 25 (ANI): A Patiala House court here on Monday extended interim protection granted to former Union Minister P Chidambaram and his son Karti Chidambaram in Aircel-Maxis case till April 26.
The Aircel Maxis case is being investigated by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) to unravel the alleged elements of money laundering.
On March 8, the court had extended their protection from arrest up to March 25.
During the course of the hearing, ED counsel Solicitor General Tushar Mehta accused the father-son duo of not cooperating in the investigation.
He also alleged that there is a money trail beyond the border and pointed out that they have requested additional information from the United Kingdom (UK) and Singapore authorities.

"The overseas transaction details were not disclosed by Chidambaram. These money trails need to be investigated. His emails show cross-border transactions," he said.
To this, senior advocate Kapil Sibal appearing on behalf of father-son duo sought the information retrieved by the ED. He also accused CBI and ED of delaying the matter.
"In the matter being investigated by CBI, P Chidambaram has been called only once in 2014. Why has the bail not been confirmed," he asked. "He was last called by ED in August 2018. For seven months, they have been seeking time after time," said Sibal.
He also requested them to demonstrate what they are investigating and said: "They have filed the charge-sheet and the investigation is complete. They need to demonstrate what they are investigating." 
The case pertains to an approval granted by the Foreign Investment Promotion Board (FIPB), a body under Union Ministry of Commerce and Industry, to Mauritius-based firm Global Communication and Services Holdings Limited for investment in Aircel in alleged violation of norms.
The FIPB approval was allegedly granted in 2006 when Chidambaram was India’s Finance Minister.
According to rules and foreign direct investment (FDI) policy of the Central government, Chidambaram was only empowered to give approval to proposals involving foreign investment up to Rs 600 crore.
However, he is accused of approving foreign investment proposal of Global Communication and Services Holdings Ltd worth around Rs 3,560 crore. (ANI)