You are here: Home » News-ANI » National
Business Standard

Aircel-Maxis case: Court extends protection from arrest to P Chidambaram, son Karti till Aug 23

ANI  |  General News 

A Special court on Friday extended till August 23 the interim protection from arrest to former Union Finance Minister P Chidambaram and his son Karti Chidambaram in connection with the Aircel-Maxis case.

Special CBI Judge OP Saini, while extending the relief, which was to end today, adjourned the matter to August 23 for hearing on the bail applications and September 6 for cognizance.

During the last hearing, Kapil Sibal, while arguing for the anticipatory bail of the duo, contended that the investigation in the case stands completed and that the charge sheet has also been filed by both the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED).

The case, which is being probed by the CBI and ED, relates to alleged irregularities in grant of Foreign Investment Promotion Board (FIPB) approval in the Aircel-Maxis deal.

The FIPB approval was allegedly granted in 2006 when Chidambaram was India's Finance Minister.

According to rules and foreign direct investment (FDI) policy of the Central government, Chidambaram was only empowered to give approval to proposals involving foreign investment up to Rs 600 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 09 2019. 14:36 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU