Aircel-Maxis case: Delhi court grants interim bail to Chidambaram, son Karti 

Delhi Special Court on Thursday granted anticipatory bail to former Finance Minister P Chidambaram and his son Karti Chidambaram in both ED and CBI probe in the Aircel-Maxis case, news agency ANI reported. 

Earlier in the day, the Supreme Court turned down Chidambaram's bail plea in the INX media case stating that granting bail would affect the probe.

Chidambaram is facing probe in cases registered by the CBI and the Enforcement Directorate (ED) on alleged irregularities in the Foreign Investment Promotion Board (FIPB) clearance given to INX Media to the tune of Rs 305 crore in 2007 when he was the Union finance minister.

KM Natraj, Additional Solicitor General, appearing for the ED and CBI in the Aircel-Maxis case, on Monday asserted that P Chidambaram, as finance minister, had granted approval beyond his capacity and benefited certain people and received kickbacks.

"These are serious economic offences which are a serious threat to the national economy and are white-collar crimes. As finance minister, he granted approval beyond his capacity, benefitted certain persons and received kickbacks," he told special CBI judge O P Saini.

O P Saini was hearing the petition filed by P Chidambaram and his son Karti Chidambaram seeking anticipatory bail in the case. The court reserved orders on the plea till September 5.

The case, which is being probed by the CBI and ED, relates to alleged irregularities in grant of Foreign Investment Promotion Board (FIPB) approval in the Aircel-Maxis deal.

The FIPB approval was allegedly granted in 2006 when Chidambaram was the Union finance minister.

According to rules and foreign direct investment (FDI) policy of the Central government, Chidambaram was only empowered to give approval to proposals involving foreign investment up to Rs 600 crore. 

(With inputs from ANI)