Year of reckoning for India Inc: Aircel-Maxis case to stay on front pages

Chidambaram has been interrogated several times and been granted several applications for anticipatory bail

Former Finance Minister P Chidambaram and his son Karti were collateral damage in a controversy that began in 2011 with roving entrepreneur C Sivasankaran complaining that he had been “forced” by former Union communications minister Dayanidhi Maran to sell his telecom company Aircel to Malaysian company Maxis. The quid pro quo: a Maxis sister company had invested billions in the Maran family’s media conglomerate Sun TV. During this probe, the Central Bureau of Investigation (CBI) questioned Chidambaram on whether he was competent to approve the deal via the Foreign Investment Promotion Board (FIPB). 

The FIPB could sanction foreign direct investment deal