Aircel Maxis case: P Chidambaram’s interim protection extended

New Delhi: The Delhi Patiala House Court on Tuesday extended the interim protection granted to former Union Finance Minister P Chidambaram and his son Karti till January 11 in the Aircel Maxis case.

The Aircel Maxis case emerged out of the 2G spectrum cases, pertaining to a grant of Foreign Investment Promotion Board (FIPB) approval to firm M/S Global Communication and Services Holdings Limited, Mauritius for investment in Aircel.

The FIPB approval was allegedly granted in the year 2006 when Chidambaram was the finance minister. According to the rules and Foreign Direct Investment (FDI) policy of the government, Chidambaram was only empowered to give approval to proposals involving a foreign investment amount of up to Rs 600 crore. However, he reportedly approved the foreign investment proposal of Global Communication and Services Holdings Ltd worth Rs 3560 crore approximately. (ANI)

On November 26, the Central Bureau of Investigation (CBI) had informed the Patiala House Court that it has been granted permission by the Centre to prosecute former finance minister P Chidambaram in connection with the Aircel-Maxis case.

Chidambaram has denied all charges leveled by the central probe agency.