Home / Latest News / CBI admits before Supreme Court: Yes, we are probing Ex. Finance Minister P Chidambaram in Aircel Case

CBI admits before Supreme Court: Yes, we are probing Ex. Finance Minister P Chidambaram in Aircel Case

April,5,2017:

Ex. Finance Minister P Chidambaram in Aircel Case
Ex. Finance Minister P Chidambaram in Aircel Case

Chidambaram is accused of granting FIPB clearance to the Aircel-Maxis deal instead of referring it to the Cabinet Committee on Economic Affairs headed by the Prime Minister.

Trouble seems to be brewing for the former Finance Minister & a senior Congress leader P. Chidambaram.

The CBI informed the Apex Court on Monday that it’s probing all the angles in Aircel-Maxis case, including Foreign Investment Promotion Board ( FIPB ) clearance given by him in the year 2006.

During one brief hearing, BJP leader Subramaniam Swamy told the SC bench, headed by CJI JS Khehar, that he’d received a reply from the Central Bureau of Investigation, stating role of P. Chidambaram under the probe. He also said CBI should file a status report in the court.

Appearing on behalf of CBI, Additional Solicitor General- Tushar Mehta assured the bench that status report would be filed within 2 weeks. The bench has slated the hearing for 2nd May.

Enforcement Directorate(ED), meanwhile, filed its status report on this ongoing investigation in a sealed cover to the SC. ED is investigating the money laundering aspect of this Aircel-Maxis case.

Subramaniam Swamy’s plea alleged that P. Chidambaram illegally granted the FIPB clearance to the Aircel-Maxis deal while this should’ve been referred to Cabinet Committee on Economic Affairs(CCEA) headed by the PM. The CCEA only is empowered to clear foreign investments over six hundred crore.

He had said, while referring to the CBI charge sheet that the money transaction involved in that process was around ₹3,500 crore. FIPB clearance was given by  the Former Finance Minister, who should’ve sent it to the CCEA.

In February, the SC had asked Swamy to present concrete evidence backing his plea for a probe into P. Chidambaram’s role.

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