Aircel-Maxis spectre back to haunt Chidambaram
India, July 4 -- In a move that could spell trouble for former Finance Minister P Chidambaram, the CBI has sought from the CAG details of its audit report in the Aircel-Maxis deal exposing "undisclosed" and "illegal" fund flow of Rs1,255 crore to Aircel from Malaysian company Maxis.
While the Foreign Investment Promotion Board (FIPB) had given approval for only '3,514 crore of investment by Maxis in Aircel, the CAG's P&T Audit wing with the help of its counterpart auditors from Malaysia, has discovered that Aircel got '4,769 crore from Maxis in clear violation of Foreign Exchange Management Act (FEMA) and Prevention of Money Laundering Act (PMLA).
"During the course of investigation of the above-referred case (Aircel-Maxis), it transpir...
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