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Karti controlled firm that got Rs 26L funds in Aircel-Maxis deal: ED

Press Trust of India  |  New Delhi 

Karti Chidambaram, the son of former Union P Chidambaram, controlled "each and every aspect" of (ASCPL) which received Rs 26 lakh as alleged bribe in the Aircel-case, the has claimed in its charge sheet against him and others filed before a today.

Today's charge sheet, which is part of the 2G spectrum allocation case, has been filed against Karti Chidambaram, Advantage Strategic Consultancies Private Limited, (CMSPL) and a few others under the Prevention of Act.

"ASCPL was set up at the directions of and was controlled by him," the ED said in the charge sheet.

It said also "arranged the funds for setting up" the company.

"The affairs of ASCPL were managed by Karti and internal e-mails show the control of Karti over each and every aspect of the business of ASCPL," it said.

It claimed that ASCPL "received" about Rs 26 lakh from Televenture Ltd, the Indian company, which sold shares to

"This payment was received immediately after FDI approval," the ED said in the charge sheet indicating alleged quid pro quo or bribe.

Talking about the deal in question, the charge sheet said had "invested USD 800 million (Rs 3,565.91 crore) as Foreign Direct Investment (FDI)."

"The authority of to give approval for FDI was limited to Rs 600 crore at the relevant time. The (CCEA) was the competent authority for FDI proposals of over Rs 600 crore.

"In this case, FDI was projected as Rs 180 crore which was the par value of the shares acquired by Maxis, whereas the FDI was actually Rs 3,565.91 crore," it said.

The ED said that the other firm listed as accused in the charge sheet -- CMSPL -- was "a company promoted by Karti (the son of the then who gave the approval without having competence) received a sum of about Rs 90 lakh from Maxis and its associate Malaysian companies allegedly for software services".

"The software sold for Rs 90 lakh was designed to be used for compliance with Indian laws and was not of any use for a Malaysian company," it said.

The agency has questioned and recorded the statement of in this case at least twice.

The FIPB approval in the case was granted in March 2006 by P Chidambaram even though he was competent to accord approval on project proposals only up to Rs 600 crore and beyond that it required the approval of the CCEA, the ED had said.

The agency had earlier said its probe had revealed that the case of the FDI was "wrongly projected as an investment of Rs 180 crore so that it need not be sent to the CCEA to avoid a detailed scrutiny".

In September last year, the ED had attached assets worth Rs 1.16 crore of Karti Chidambaram and ASCPL in this case.

The ED, in 2016, had filed a charge sheet in this case against former Telecom Minister Dayanidhi Maran, his brother and four others.

However, the court later discharged them last year in both the ED and the CBI cases pertaining to the Aircel-Maxis deal.

The two agencies subsequently had appealed against this order before the

The ED had yesterday questioned P Chidambaram for the second time in this case.

The had on March 12 directed investigating agencies -- the CBI and the ED -- to complete their probe into the 2G spectrum allocation cases, including the Aircel-Maxis alleged case, in six months.

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

First Published: Wed, June 13 2018. 17:35 IST