ED files charge sheet against Chidambaram
Files charge sheet against ex-FM
The Enforcement Directorate filed charge sheet against former Union minister P Chidambaram on Thursday in the AircelMaxis money laundering case, accusing him of conspiring with foreign investors to give them clearance for their ventures. Special Judge OP Saini fixed November 26 for consideration of the charge sheet.
The Enforcement Directorate on Thursday tightened its noose around former Union minister P Chidambaram by filing a charge sheet against him in a Delhi court in the Aircel-Maxis money laundering case, accusing him of conspiring with foreign investors to clear their venture. The agency also named S Bhaskaraman (chartered accountant of Chidambaram’s son Karti).
Chidambaram and his son have both denied the allegations levelled against them by the
CBI and the ED.
The others named in the charge sheet filed before Special Judge O P Saini are: V Srinivasan (former CEO of Aircel), Augustus Ralph Marshall (associated with Maxis), Astro All Asia Networks Malaysia, Aircel Televentures, Maxis Mobile Services, Bumi Armada Berhad and Bumi Armada Navigation. The court has fixed November 26 for consideration of the charge sheet.
It has charged the accused under sections 3 and 4 of the Prevention of Money Laundering Act. If found guilty, they would be liable to a jail term of up to seven years along with fine.
The nine are accused of money laundering of ~11.6 million in lieu of illegal approval by the Foreign Investment Promotion Board (FIPB) accorded by the former minister in March 2006. The approval was given to the foreign investor Global Communication and Services Holdings Limited, Mauritius in violation of the various rules and regulations governing the FDI policy in India.
According to “rules and FDI policy of the government in 2006, Chidambaram, the then finance minister was empowered to give approval of the foreign investment to the proposals involving foreign investment up to ~6 billion only.
The foreign investment proposal of Global Communication and Services oldings Limited was of $800 million which amounts to ~35.6 billion approximately (when $1 was ~44.5),” the ED said.
Meanwhile, the Delhi High Court extended till November 29 the interim protection from arrest granted to P Chidambaram on his pleas seeking anticipatory bail in the INX Media case lodged by the ED and the CBI.
The matter was adjourned to November 29 as Justice A K Pathak was on leave.
HC extended the Congress leader’s interim protection from arrest till November 29