The Central Bureau of Investigation (CBI) Tuesday recorded the statement of former finance minister P. Chidambaram in connection with Aircel-Maxis deal case.
Chidambaram was charged with giving the Foreign Investment Promotion Board (FIPB) clearance to the 2006 Aircel-Maxis deal instead of referring the matter to the cabinet.
CBI sources said Chidambaram was recently asked to give a statement in connection with the case as he was competent for giving sanction only up to Rs.600 crore and the Aircel-Maxis deal was approximately of Rs.3,500 crore.
The sources said the matter should have been referred to the Cabinet Committee on Economic Affairs (CCEA) as foreign investments above Rs. 600 crore can only be cleared by this cabinet panel headed by the prime minister.
The agency had informed the Special CBI court that how this clearance was given is still under investigation.
"We have not concluded the probe on this aspect yet," CBI prosecutor K.K. Goel had told the court.
Chidambaram had said in September that the file regarding the case was put up before him by officials and he approved it "in the normal course".
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
