New Delhi: In a blow to former finance minister P Chidambaram, the Central Bureau of Investigation CBI will investigate the circumstances of the Foreign investment Promotion Board approval given by him in the Aircel-Maxis deal in 2006.
Clearing his stand, Chidambaram on Friday said that there was no violation of rules in the grant of FIPB approval. "In the Aircel-Maxis case, the FIPB sought the approval of the Finance Minister in accordance with the rules. The case was submitted through the Additional Secretary and Secretary, DEA. Both of them recommended the case for approval. Approval was granted by me, as Finance Minister, in the normal course," he said.
Reacting to the CBI chargesheet regarding his decision in the Aircel-Maxis case, he said, "I understand that the officials of the FIPB who dealt with the matter have explained to the CBI that under the rules, as they stood then, the case required only the approval of the Finance Minister. I am sure the files will bear out the correctness of this position."
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