The Delhi Patiala House Court on Tuesday extended the interim protection granted to former Union Finance Minister P Chidambaram and his son Karti till January 11 in the Aircel Maxis case.
The Aircel Maxis case emerged out of the 2G spectrum cases, pertaining to a grant of Foreign Investment Promotion Board (FIPB) approval to firm M/S Global Communication and Services Holdings Limited, Mauritius 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. (ANI)
On November 26, the Central Bureau of Investigation (CBI) had informed the Patiala House Court that it has been granted permission by the Centre to prosecute former finance minister P Chidambaram in connection with the Aircel-Maxis case.
Chidambaram has denied all charges leveled by the central probe agency.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app