ED conducts raids on Karti Chidambaram's properties in Delhi, Chennai

New Delhi: The Enforcement Directorate conducted raids on Karti Chidambaram's properties in Delhi and Chennai on Saturday in connection with the Aircel-Maxis case.

The case pertains to the Foreign Investment Promotion Board (FIPB) approval granted in 2006 by P Chidambaram, with the ED saying it was probing "the circumstances of said FIPB approval granted by the then finance minister". 

The agency had said FIPB approval in the Aircel-Maxis FDI case was granted in March, 2006 by the then finance minister even though he was competent to accord approval on project proposals only up to Rs. 600 crore and beyond that it required the approval of the Cabinet Committee on Economic Affairs (CCEA). 

Meanwhile, PTI quoting sources said that an authorised representative of Karti met officials probing another case against Karti - the INX Media case - on Friday and handed over some documents. ED has issued fresh summons to Karti and asked him to appear before it on January 16.