Aircel-Maxis case: Interim protection to Chidambaram, Karti extended till Feb 1

Delhi's Patiala House Court on Friday extended the interim protection granted to former union finance minister P. Chidambaram and his son Karti Chidambaram till February 1, in connection with the Aircel Maxis scam-related cases filed by the Enforcement Directorate and Central Bureau of Investigation (CBI).

Special CBI Judge O P Saini put up the matter for February 1 after Solicitor General Tushar Mehta, appearing on behalf of CBI, told the court that the ongoing probe was nearing completion and sought some time.

Senior advocates Kapil Sibal and A M Singhvi, appearing on behalf of the father-son duo, sought an extension of protection granted to the latter.

The CBI also informed the court that the requisite sanctions to prosecute certain public servants accused in the case have been obtained.

The Aircel Maxis case emerged out of the 2G spectrum cases, pertaining to an approval granted to a Mauritius-based firm, M/S Global Communication and Services Holdings Limited, by the Foreign Investment Promotion Board (FIPB) for investment in Aircel.

The FIPB approval was allegedly granted in the year 2006 when Chidambaram was the finance minister. According to the rules and Foreign Direct Investment (FDI) policy of the government, Chidambaram was only empowered to give approval to proposals involving a foreign investment amount of up to Rs 600 crore.

However, he reportedly approved the foreign investment proposal of Global Communication and Services Holdings Ltd worth Rs 3560 crore approximately.