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ED files chargesheet against Karti Chidambaram in Aircel Maxis case

The Enforcement Directorate (ED) on Wednesday filed before a Delhi court a chargesheet against businessman Karti Chidambaram in the Aircel-Maxis case.

ED, which fights financial crimes in India, is probing the circumstances involved in the approval given to the Malaysia-based Maxis group for investment in Indian telecom company, Aircel, in 2006. Karti’s father, senior Congress leader P Chidambaram, was India’s finance minister when Maxis got the approval.

Chidambaram, as finance minister, could only approve foreign investment proposals up to Rs 600 crore but it is alleged that he approved for the Aircel-Maxis deal, which was worth Rs 3,500 crore. ED is probing if Karti got kickbacks for the approval.

Source: HindustanTimes