CBI records Chidambaram statement on Aircel-Maxis deal

The FIPB or the Foreign Investment Promotion Board sought the approval of Chidambaram for clearing the Aircel-Maxis deal in 2006.

Following allegations by BJP leader Subramanian Swamy, who is a petitioner in this case, the CBI is investigating whether the finance minister was the competent authority to give approval to Maxis subsidiary Global Communication Services Holdings Ltd to invest $800 million in Aircel Ltd in 2006 since similar cases were sent to the Cabinet Committee on Economic Affairs (CCEA).

On May 5, less than a fortnight before the results of the Lok Sabha elections, the then CBI director, Ranjit Sinha, cleared a CBI proposal, pending since October 2013, to further investigate the role of Chidambaram in the FIPB approval.

After the change of government at the Centre, and armed with an opinion from Attorney General Mukul Rohatgi, the CBI filed its chargesheet on August 29, mentioning the FIPB clearance. “Further investigation is being carried out into the circumstances of the said FIPB approval granted by the then Finance Minister. The related issues are also being investigated,” the chargesheet filed in the CBI special court stated.

Responding to the chargesheet, Chidambaram issued a statement: “The FIPB is chaired by the Secretary, Department of Economic Affairs. It recommends proposals for the approval of the Finance Minister and, where required under the rules, the approval of the CCEA.”

“In the Aircel-Maxis case, the FIPB sought the approval of the Finance Minister in accordance with the rules. The case was submitted through the Additional Secretary and Secretary, DEA. Both of them recommended the case for approval. Approval was granted by me, as Finance Minister, in the normal course,” he said.