According to a CBI charge-sheet submitted in a special court, Mauritius-based Global Communication Services Holdings Ltd, a subsidiary of Maxis, had sought approval for an investment of about Rs 5,127 crore in Aircel. The Cabinet Committee on Economic Affairs (CCEA) was competent to grant the approval.
However, the approval was granted by the then Finance Minister. According to the ED, it has also been revealed that the information of amount given for board permission in the Aircel case was not correct. Incorrect figures were presented before the Board to hide the fact. However, Mr Chidambaram has refuted the allegations. In a recently released statement, Mr Chidambaram has said that FIPB approval was granted in the "normal course of business". (UNI)