Karti controlled firm that got Rs 26L funds in Aircel-Maxis deal: ED
Karti Chidambaram, the son of former Union Finance Minister P Chidambaram, controlled “each and every aspect” of Advantage Strategic Consulting Private Limited (ASCPL) which received Rs 26 lakh as alleged bribe in the Aircel-Maxis money laundering case, the Enforcement Directorate has claimed in its charge sheet against him and others filed before a Delhi court on Wednesday.
Today’s charge sheet, which is part of the 2G spectrum allocation case, has been filed against Karti Chidambaram, Advantage Strategic Consultancies Private Limited, Chess Management Services Pvt. Ltd. (CMSPL) and a few others under the Prevention of Money Laundering Act.
“ASCPL was set up at the directions of Karti Chidambaram and was controlled by him,” the ED said in the charge sheet. It said Karti Chidambaram also “arranged the funds for setting up” the company. “The affairs of ASCPL were managed by Karti and internal e-mails show the control of Karti over each and every aspect of the business of ASCPL,” it said.
It claimed that ASCPL “received” about Rs 26 lakh from Aircel Televenture Ltd, the Indian company, which sold shares to Maxis.
“This payment was received immediately after FDI approval,” the ED said in the charge sheet indicating alleged quid pro quo or bribe.
Talking about the deal in question, the charge sheet said Maxis had “invested $800 million (Rs 3,565.91 crore) as Foreign Direct Investment (FDI).” “The authority of finance minister to give approval for FDI was limited to Rs 600 crore at the relevant time. The Cabinet Committee of Economic Affairs (CCEA) was the competent authority for FDI proposals of over Rs 600 crore.
“In this case, FDI was projected as Rs 180 crore which was the par value of the shares acquired by Maxis, whereas the FDI was actually Rs 3,565.91 crore,” it said.
The ED said that the other firm listed as accused in the charge sheet — CMSPL — was “a company promoted by Karti (the son of the then finance minister who gave the approval without having competence) received a sum of about Rs 90 lakh from Maxis and its associate Malaysian companies allegedly for software services”.
“The software sold for Rs 90 lakh was designed to be used for compliance with Indian laws and was not of any use for a Malaysian company,” it said.
- Experts bust myths, say Leucoderma not contagious 23 Jun 2018 | Archana Jyoti
- Sumitra expresses displeasure over Parliament disruptions 23 Jun 2018 | PNS
- Indian envoy visits two US detention facilities where Indian kids held 23 Jun 2018 | PNS
- Cong calls for probe into dealings of bank 23 Jun 2018 | PNS
- Interpol red corner notice against Nirav likely soon 23 Jun 2018 | PNS
- ED wants fugitive tag for liquor baron Mallya 23 Jun 2018 | PNS
- Screening panels: Mistry to steer Cong in MP, Selja in Raj 23 Jun 2018 | PNS
- Italy refuses to extradite middleman Carlo Gerosa 23 Jun 2018 | PNS
- Inshort 23 Jun 2018 | PNS
- Assam Rifles seizes party drugs worth Rs 49L in Manipur 23 Jun 2018 | PTI
Sunday EditionView All
17 Jun 2018 | VR Jayaraj | Kochi
In a swift move intended at stemming the protests brewing in the State police force against certain top officials’ ‘feudalistic’ practice of persecuting policemen and camp followers by using them as house servants, the Kerala Government on Saturday removed ADGP Sudesh Kumar, whose daughter was the other day booked for assaulting and verbally abusing his official police driver, from the position of head of the Armed Police Battalion. The action against...
STATE EDITIONSView All
23 Jun 2018 | PNS | Kochi
MCD still waiting for HC order on encroachment Dehradun: Days after the High Court ordered the officials to remove encroachment from different areas of Dehradun like markets, streets and footpaths in four weeks, the officials concerned said on Friday that they were still waiting for the order to come. They, however, assured that they would execute the order once they get a copy and read it thoroughly...