CBI investigating Chidambaram 's role in Maxis deal of 2006
- 5 years ago
The CBI on Monday told the special 2G court hearing the Aircel-Maxis case that the FIPB approval given by former Finance Minister P Chidambaram in the deal was a "mistake".
"The investment was of $800 million which is Rs 3,500 crore (approx). The FIPB approval (by the then Finance Minister) was a mistake. This is under investigation," the Investigating Officer in the case told Special Judge O P Saini.
The agency said it was investigating as to how Chidambaram had given foreign investment promotion board (FIPB) approval in the Aircel-Maxis deal in 2006.
It contended that Finance Minister was competent to give approval of upto Rs 600 crore but Chidambaram gave the approval which was worth $800 million, approximately Rs 3,500 crore.
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"The investment was of $800 million which is Rs 3,500 crore (approx). The FIPB approval (by the then Finance Minister) was a mistake. This is under investigation," the Investigating Officer in the case told Special Judge O P Saini.
The agency said it was investigating as to how Chidambaram had given foreign investment promotion board (FIPB) approval in the Aircel-Maxis deal in 2006.
It contended that Finance Minister was competent to give approval of upto Rs 600 crore but Chidambaram gave the approval which was worth $800 million, approximately Rs 3,500 crore.
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