Chidambaram charged with money laundering in Aircel-maxis case

NEW DELHI: The Enforcement Directorate (ED) said on Thursday that it has filed money-laundering charges against former finance minister P Chidambaram in connection with its probe into the Aircel-maxis case.

ED has charged Chidambaram and others with allegedly laundering ~1.16 crore for approval given by the Congress leader to a foreign investment worth ~3,560 crore by Global Communication and Holdings, a wholly owned subsidiary of Maxis Berhad, Malaysia, when he was finance minister in 2006. The ED alleged that the investment proposal was approved by Chidambaram in violation of the rules and regulations governing the foreign direct investment policy. Besides Chidambaram, the ED has named three individuals and six companies, including Maxis, as accused in the case.

“CBI has already filed a charge sheet in the Aircel-maxis case. ED has now filed a complaint in the same case. If and when summons is issued by the honourable court, the cases will be contested. I will not make any other public comment,” Chidambaram said.

Special judge OP Saini will consider the charge sheet on November 26. In June, the ED charged Chidambaram’s son Karti in the same case.

“As per rules and FDI policy of Government of India in 2006, Chidambaram, the then finance minister was empowered to give approval of the foreign investment to the proposals involving foreign investment up to ~600 crore only. The foreign investment proposal of Global Communication and Services Holdings Limited was of $800 million which amounts to ~3,560 crore approximately (when $1 was ~44.5)...,” ED said.