Aircel-Maxis case: ED, CBI seek more time to complete probe

New Delhi: A Delhi court on Thursday adjourned till May 4 the arguments on cognizance of charge sheet in the Aircel-Maxis case, after the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) sought more time to complete the investigation against former Union Minister P. Chidambaram and his son.

On February 14, both the investigating agencies had submitted a status report before the court. The case was last year adjourned sine die but was revived later.

During the course of proceedings on Thursday, the ED told the court that Letter Rogatories (LRs) have been sent to four different countries and their responses are awaited.

“Investigation is yet to be conducted, so arguments of cognizance can be deferred,” Additional Solicitor General Sanjay Jain told the Special CBI Judge Ajay Kumar Kuhar.

Observing that the status reports appear to be “voluminous”, the judge adjourned the matter for May 4.

The case relates to alleged irregularities in the grant of Foreign Investment Promotion Board approval in the Aircel-Maxis deal. The approval was granted in 2006 when P. Chidambaram was the Union Finance Minister.

According to rules and the foreign direct investment policy in force at that time, Chidambaram was allegedly empowered to give approval to proposals involving foreign investment only up to Rs 600 crore.