Aircel Maxis case: Court reserves order on cognizance point in charge sheet

"Some clarifications sought by the court have been furnished today. Let the matter be listed for consideration/orders on the point of cognizance on November, 27 (Saturday)," read order of Special Judge MK Nagpal of Rouse Avenue Court.

The order came after the conclusion of the submissions by the CBI, represented by Adv. Noor Rampal through Video Conferencing in the hybrid hearing.

Additional Solicitor General Sanjay Jain, appearing for probe agencies had earlier informed the court that agencies have sent Letters Rogatory -- documents making a request through a foreign court to obtain information -- to different countries and there are some developments in that regard.

The CBI had earlier submitted that it is working on a new lead. Both agencies have filed the status report too in court earlier.

The court had earlier directed the agencies to file a status report in the Aircel Maxis case involving P. Chidambaram and his son Karti Chidambaram which was adjourned sine die.

The court, while asking for reports from the agencies, said that the allegations mentioned in the chargesheet appeared to be "quite serious in nature".

Predecessor Judge OP Saini, while granting anticipatory bail, had observed that the entire evidence related to the commission of the crime by the two accused was documentary in nature and not liable to be tampered with by both accused.

The case, which is being probed by the CBI and ED, relates to alleged irregularities in the grant of Foreign Investment Promotion Board approval in the Aircel-Maxis deal.

The probe agencies say the approval was granted in 2006 when P. Chidambaram was the Union Finance Minister.

According to rules and the foreign direct investment policy in force at that time, Chidambaram was allegedly empowered to give approval to proposals involving foreign investment only up to Rs 600 crore.

It is alleged that Chidambaram withheld Foreign Investment Promotion Board (FIPB) clearance of the deal until his son, Karti Chidambaram received the five-per cent share in the company.