According to the agency, the approval for the Aircel-Maxis transaction was granted during Chidambaram’s tenure as Finance Minister. The ED has alleged a quid pro quo arrangement in the grant of Foreign Investment Promotion Board (FIPB) clearance for the deal.
The agency further alleged that Karti Chidambaram received illegal gratification amounting to ₹1.16 crore in connection with the transaction. The ED claims the funds were routed through associated entities as part of the alleged arrangement linked to the FIPB approval.
The Aircel-Maxis deal pertains to the 2006 investment by Malaysia-based Maxis in Indian telecom company Aircel, which required government approval at the time as it involved foreign direct investment beyond prescribed limits.
The case has been under investigation for several years, with both P. Chidambaram and Karti Chidambaram previously denying any wrongdoing. Further proceedings in the matter are expected before the designated court.
