New Delhi: The CBI yesterday told a special court here that foreign investment approval given by then finance minister P Chidambaram to a Mauritius-based company in the Aircel-Maxis deal was a “mistake” and they are probing his role.
“The investment was of $800m which is Rs 3,500 crore (approximately). The FIPB (Foreign Investment Promotion Board) approval (by the then finance minister) was a mistake. This is under investigation,” the Central Bureau of investigation (CBI) told Special Judge O P Saini.
The CBI’s contentions came while advancing arguments in its recently-filed charge sheet against then communications minister Dayanidhi Maran, his brother Kalanithi Maran, and Malaysian business tycoon T Ananda Krishnan and others. Dayanidhi Maran is charged with using his influence to help Krishnan acquire Aircel by allegedly coercing its owner Sivasankaran to part with his stake.
The court has posted for further hearing on the consideration of the charge sheet on October 13. The CBi said its investigation has revealed that Dayanidhi Maran did not raise objection to the proposal of foreign investment by the Global Communication Services Holding Ltd in Aircel Ltd in 2006.
It added that Global Communication Services had sought the FIPB’s nod for $800m investment, for which the Cabinet Committee on Economic Affarirs (CCEA) was competent to grant approval. “However, the approval was granted by the then finance minister (Chidambaram),” the CBI’s charge sheet said.
It was alleged by Sivasankaran that Dayanidhi Maran favoured Maxis Group in the takeover of his company and in return, the company made investments through Astro Network in a company stated to be owned by the Maran family.
IANS
