CBI has already interrogated Chidambaram in December 2014. However the agency did not go further due to the influence of the unholy club in Lutyens’ Delhi.
The ED’s report is believed to have detailed the violations committed by Chidambaram in providing the clearance of the FIPB in allowing Malaysian company Maxis to take over Aircel. The ED also provided the details of money trail of two lakh dollars ($200,000) from three subsidiaries of Maxis to Chidambaram’s son Karti’s company Chess Management Consultants Private Limited. This is a damning evidence of quid-pro-quo in the corrupt deal, where the son’s company gets money after the father Minster approves a dubious deal.
Swamy accused CBI of delaying the probe for more than five years and requested the SC Bench comprising Chief Justice JS Khehar and Justice DY Chandrachud to direct the agencies to finish the probe within the specified time limit. The BJP leader had approached SC detailing the violations in FIPB approval given by Chidambaram and Rs.26 lakh money trail to Karti linked company from the telecom company in 2006.
Maxis invested more than Rs.3600 crores and the proposal had to get mandatory clearance from Cabinet Committee on Economic Affairs (CCEA). The illegality was done by Chidambaram as Finance Minister who could approve only loans of Rs.600 crores or less. Higher amounts required the approval of the Cabinet Committee for Economic Affairs (CCEA). Another violation was, those days in 2006, the maximum foreign investment allowed in telecom sector was only 74 percent. But Maxis acquired 99.93 percent. Though declared in Indian records as owning only 73.5 percent in Aircel, Maxis declared to the Malaysian Stock Exchange that they have acquired 99.93 percent shares of Aircel. Later in 2012, CAG found that Rs.4700 crores was the actual value Maxis invested in Aircel, while the FIPB clearance “illegally” given by Chidambaram was only up to invest Rs.3600 crores.
CBI has already interrogated Chidambaram in December 2014. However the agency did not go further due to the influence of the unholy club in Lutyens’ Delhi. ED and Income Tax has conducted joint raids in December 2015 and unearthed Chidambaram family’s huge properties and investments in 14 countries. The agencies also found 21 secret foreign bank accounts of Karti in several countries.
Latest posts by Team PGurus (see all)
- Dr. Swamy’s speeches at NDTV Frauds book launches - April 28, 2017
- Was Karti’s company an agent of Russian Bank Nazprom? - April 28, 2017
- Phone conversation of Nalini Chidambaram exposes her role in hotel grabbing - April 27, 2017