Senior Congress leader and father of Karti P Chidambaram was the finance minister of India when Maxis got approval for the investment in telecom firm Airtel.
On Wednesday the Enforcement Directorate (ED) of India filed a case against the former fiancé minister P Chidambaram before a Delhi court, a charge sheet countering the businessman Karti Chidambaram.
In the Aircel Maxis Case, the EU seems unsympathetic towards the financial crime. The investigation is on its peak eyeing on the state of affairs that involved in the consent provided to the Malaysia-based Maxis group for investment in Indian telecom company, Aircel in the year 2006. When the order was granted Karti’s father P Chidambaram was the finance minister was the finance minister of India.
While as per the law the finance minister is only bound to approve foreign investments up to 600 crores. Howbeit it is professed that he favored the Aircel-Maxis deal, which was worth Rs 3,500 crores.