Court reserves order on P Chidambaram, Karti' anticipatory bail for Sept 5 in Aircel Maxis Case

New Delhi: The Special Court, hearing the anticipatory bail applications of former finance minister and senior Congress leader P Chidambaram his son Karti in the Aircel-Maxis case has reserved its order for September 5.

Both Central Bureau of Investigation (CBI) and Enforcement Directorate, probing the case have continuously opposed the bail plea of the father and son duo. The investigative agencies have contended that they have not been cooperating in the interrogation and that granting them interim protection from would only hamper the ongoing probe in the case.

The CBI and ED, probing the Aircel-Maxis case, have alleged that Chidambaram, who was then Union finance minister, allegedly gave Foreign Investment Promotion Board (FIPB) approval in the Aircel-Maxis FDI in March 2006 even though he was empowered to accord approval on project proposals only up to Rs 600 crore. Beyond the said limi it required the approval of the Cabinet Committee on Economic Affairs (CCEA).

The CBI is probing how Chidambaram granted a FIPB approval to a foreign firm, when only the CCEA was empowered to do it.

The senior Congress leader's role has come under the scanner of investigating agencies in the Rs 3,500-crore Aircel-Maxis deal and the INX Media case involving Rs 305 crore.