Aircel-Maxis: Interim protection to P Chidambaram\, Karti extended

Aircel-Maxis: Interim protection to P Chidambaram, Karti extended

ANI  |  New Delhi [India] 

A on Thursday extended interim protection from arrest granted to former minister P and his son Karti, in connection with the Aircel-Maxis deal case.

The court had extended their interim protection on October 8 while hearing anticipatory bail pleas of the father-son duo seeking protection from arrest by the (CBI) and the (ED) in the case. Earlier, the ED had filed a petition in the top court seeking cancellation of interim relief granted to the two.

Meanwhile, the has refused to give an urgent hearing on Karti's plea seeking permission to travel aboard from November 3. "going abroad is not a matter that needs to be taken up tomorrow," the apex court said.

The Maxis case, which emerged out of the 2G spectrum cases, pertains to a grant of the (FIPB) approval to firm M/S Global Communication and Services Holdings Limited, for investment in The FIPB approval was allegedly granted in the year 2006 when was the minister.

As per the rules and Foreign Direct Investment (FDI) policy of the government, Chidambaram was only empowered to give approval to proposals involving foreign investment up to Rs 600 crore only. However, he approved the foreign investment proposal of Global Communication and Services Holdings Ltd worth Rs 3560 crore approximately.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 01 2018. 13:55 IST