Aircel-Maxis case: Court extends interim protection from arrest to Karti, P Chidambaram till August 9

Chidambaram, then Union finance minister, allegedly gave FIPB approval in the Aircel-Maxis FDI in March 2006 even though he was empowered to accord approval on project proposals only up to Rs 600 crore.

New Delhi: A Delhi court on Thursday extended interim protection from arrest granted to P Chidambaram, son Karti in Aircel-Maxis cases till August 9.

Senior lawyer Kapil Sibbal, appearing for Chidambaram and his son told the court that they will be available for interrogation whenever the investigative agencies Central Burau of Investigation (CBI) and Enforcement Directorate (ED), probing the matter, summons them.

Chidambaram, then Union finance minister, allegedly gave Foreign Investment Promotion Board (FIPB)approval in the Aircel-Maxis FDI in March 2006 even though he was empowered to accord approval on project proposals only up to Rs 600 crore. Beyond the said limi it required the approval of the Cabinet Committee on Economic Affairs (CCEA).

The CBI is probing how Chidambaram granted a FIPB approval to a foreign firm, when only the CCEA was empowered to do it.

The senior Congress leader's role has come under the scanner of investigating agencies in the Rs 3,500-crore Aircel-Maxis deal and the INX Media case involving Rs 305 crore.

Chidambaram had filed the plea for protection from arrest in the ED case on May 30 last year after which he got relief from the court on various occasions.

ED had on last October 25 had filed charge sheet against Chidambaram in the Aircel-Maxis money laundering case, accusing him of conspiring with foreign investors to clear their venture.