Aircel-maxis deal: ED summons directors of Karti Chidambaram's firm

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New Delhi, Aug 24: The Enforcement Directorate today summoned two directors of a company owned Karti Chidambaram, the son of former finance minister, P Chidambaram. The directors of the company was summoned in connection with the Aircel Maxis scam.

The ED has summoned the two directors to probe the alleged financial transaction between the company owned by Karti and Aircel. The deal was allegedly made just before the company was given an approval from the foreign investment promotion board.

Aircel-maxis deal: ED summons directors of Karti chidambaram's firm.
The ED is seeking to know why the company owned by Karti was allotted shares at a lower rate than the book value. It has been alleged that the company controlled by Karti had benefited by earning huge profits during the sale of Aircel.

Mr Swamy says that, Karti, benefited from Mr Chidambaram's position as Finance Minister to earn huge profits during the sale of Aircel which Mr Chidambaram sanctioned in 2006. However, Mr Swamy did not produce any documentary evidence to substantiate his claims.

Senior BJP leader, Subramanian Swamy had alleged that the in 2005 Aircel was on the verge of bankruptcy. The owner of the company Sivasankaran was approached by Maxis which wanted to pick up a 74% stake in Aircel for nearly Rs 4,000 crores.

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