ED names Chidambaram as accused in second chargesheet in Aircel-Maxis case | India News

NEW DELHI: The Enforcement Directorate (ED) on Thursday named former finance minister and senior Congress leader P Chidambaram as an accused in its second chargesheet filed in the Aircel-Maxis 2G spectrum case. The agency had earlier named Chidambaram’s son Karti as an accused in the money laundering case while producing evidence on financial transactions of the “proceeds of crime”.

Building a case of money laundering, the ED said it found financial links between the Chidambarams and companies allegedly associated with Karti which showed “routing of proceeds of crime”, received as quid pro quo for the Foreign Investment Promotion Board (FIPB) approval granted by the then finance minister to a Mauritius-based company.

The ED based its claims on email communications retrieved from digital devices seized from Karti and his associates. The evidence, according to the agency, showed “routing of proceeds of crime in the guise of bonafide business deals by beneficiaries of illegal FIPB approval in the companies of Karti Chidambaram”.

The Chidambarams have consistently denied the ED’s allegations against them. On Thursday, the former FM said he would contest the case in court. “The ED has now filed a complaint in the same case. If and when summons are issued by the honourable court, the cases will be contested. I will not make any other public comment,” PTI quoted him as saying.

The ED accused Chidambaram of giving FIPB approval to Mauritius-based Global Communications and Services Holdings Ltd in 2006. It claimed the company proposed to invest $800 million or Rs 3,560 crore while the then FM was empowered to approve foreign investment proposals of up to Rs 600 crore only. The agency also said the competent authority to grant approval was the Cabinet Committee on Economic Affairs (CCEA) for any FDI above this limit, but instead of referring it to the cabinet panel, Chidambaram approved it “under a conspiracy”.

Despite contradictory and evasive responses from the accused, the ED said it had collected corroborating statements from various persons during its investigation to show money had been laundered.

Besides the senior politician, those chargesheeted include S Bhaskararaman; Aircel Televentures Ltd; V Srinivasan; Astro All Asia Networks Plc, Malaysia; Maxis Mobile Sdn Bhd, Malaysia; Bumi Armada Berhad, Malaysia; Bumi Armada Navigation Sdn Bhd, Malaysia and Augustus Ralph Marshall for laundering Rs 1.16 core in lieu of the illegal FIPB approval by Chidambaram in March 2006 to Global Communications, Mauritius.

The role of the former FM in the alleged conspiracy was highlighted in ED’s first chargesheet against Karti on June 13. The agency has questioned Chidambaram twice and his son multiple times in connection with the case.