new Delhi. A Delhi court on Wednesday granted regular bail to former Union minister P. Chidambaram and his son Karti Chidambaram in the Aircel-Maxis case filed against them by the CBI and the ED. Earlier in 2019, Chidambaram was granted anticipatory bail on a personal bond of Rs 1 lakh and surety of like amount after being directed to join the investigation in the same case.
The detailed order of the judgment is expected to be issued later.
The case, which is being probed by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED), pertains to alleged irregularities in the grant of Foreign Investment Promotion Board approval in the Aircel-Maxis deal.
Investigating agencies say the approval was given in 2006, when P. Chidambaram was the Union Finance Minister.
As per rules and foreign direct investment policy in force at that time, Chidambaram was reportedly empowered to clear only proposals involving foreign investment up to Rs 600 crore.
It is alleged that Chidambaram withheld the Foreign Investment Promotion Board (FIPB) approval of the deal till his son Karti Chidambaram got five per cent stake in the company.
—AnyTV News
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