Aircel-Maxis case: ED submits report to SC on P Chidambaram’s role

(PHOTO: SNS)


In a major development to the Aircel-Maxis case, the Enforcement Directorate (ED) on Monday submitted a report to the Supreme Court on alleged violation of Foreign Investment Promotion Board (FIPB) rules by senior Congress leader P Chidambaram.

The top court will hear the matter on May 2.

Earlier in February, the top court had asked BJP leader Subramanian Swamy to provide evidence to back his plea for a probe into Chidambaram's role into the case.

Swamy had accused Chidambaram of breaching rules in permitting Malaysian firm Maxis to acquire 100 per cent stake in Aircel through FDI in 2006.

"In Aircel-Maxis case, P Chidambaram illegally permitted sale of 100 per cent shares of an Indian company, Aircel, to a Malaysian company (Maxis) when legally, the limit was 74 per cent. That Malaysian company, through many other companies, gave a bribe to Karti," Swamy was quoted as saying by a news agency.

(With inputs from agencies)