Besides 15 loan transactions to the Siva group of companies, the former directors also used unique methods to ensure the group did not get into the default list.
Former Telecom Minister Dayanidhi Maran, his brother Kalanithi Maran and four others were on Friday chargesheeted by the Enforcement Directorate in the Special 2G court.
The CBI has completed its probe against former telecom minister Dayanidhi Maran and others in 2G scam and will approach the Centre for taking sanction for prosecution, the agency told the Supreme Court.
The company said, due internal processes as applicable for sanctions of loans of such nature and value were followed
The agency, sources said, has issued the notices under the Prevention of Money Laundering Act (PMLA) and they have summoned the accused to examine them and record their statements.
He was chargesheeted for the offences punishable under section 120-B
What ex-IL&FS top brass got for loans? Foreign trips, private jets and chopper rides.
As many as 6,801 cases of fraud were reported by scheduled commercial banks and select financial institutions involving an amount of Rs 71,542.93 crore in the last fiscal.
The UTOO 'soft' launch was in June and the full commercial launch is slated for September.
Special CBI Judge O P Saini took cognisance of the CBI's charge sheet filed against eight accused including four companies and summoned them on March 2, 2015.
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The agency had "almost finished" its probe into the matter, which involved Dravida Munnetra Kazhagam leader and former telecom minister Dayanidhi Maran, an official said.
The Central Bureau of Investigation told the Supreme Court that charge sheet in the controversial Aircel-Maxis deal involving former telecom minister Dayanidhi Maran will be filed shortly as the Attorney General disagreed with the views of its Director Ranjit Sinha to drop the prosecution.
They were chargesheeted for alleged offences punishable under section 120-B (criminal conspiracy) of IPC and under relevant provisions of the Prevention of Corruption Act.
Former Telecom Minister Dayanidhi Maran had "pressurised" and "forced" Chennai-based telecom promoter C Sivasankaran to sell his stakes in Aircel and two subsidiary firms to Malaysian firm Maxis Group in 2006, the CBI on Thursday told a special court.
R Venkataramanan, the managing trustee of the Sir Dorabji Tata Trust who is responsible for all Tata-run trusts, prefers to keep a low profile but has emerged as a power centre in the group - with more clout than many established CEOs, says Dev Chatterjee.
In effect, companies which put their money in telecom in India would have done much better to keep the cash in bank and earn interest.
Firm makes Rs 4,858-crore loss on Rs 10,799-crore income.
The sources said the matter should have been referred to the Cabinet Committee on Economic Affairs as foreign investments above Rs 600 crore (Rs 6 billion) can only be cleared by Cabinet Committee on Economic Affairs headed by the Prime Minister.
The CBI had registered a case against former telecom minister Dayanidhi Maran, his brother MP Kalanithi Maran, Malaysian business tycoon and Maxis owner T Ananda Krishnan, and Maxis Director Ralph Marshall in October 2011.
Chidambaram was competent to give approval of upto Rs 600 crore but he gave the approval which was worth approximately Rs 3,500 crore
In April 2013, CBI had first told the Court there were "some difficulties" in the probe after it went abroad.
A consummate deal-maker, the former Aircel boss raked in the moolah in many, but lost a packet in several others.
Former Telecom Minister Dayanidhi Maran, his brother Kalanidhi Maran and six others, including four companies, were on Friday chargesheeted by the CBI in a special court in the Aircel-Maxis deal case arising out of the investigation in the 2G spectrum allocation scam.
The fear of another scam pushed the government into a rather long period of so-called 'policy paralysis'. To play it safe, the price of spectrum in all subsequent auctions was benchmarked to the high 3G rates, says Surajeet Das Gupta.
Maran's penchant for taking risks was visible last year again when he acquired Indian Premier League's Hyderabad cricket franchisee and named it Sun Risers.
The Supreme Court on Thursday asked the CBI to go ahead with its probe in the Aircel-Maxis deal without waiting for necessary sanction against an official "holding high position" in connection with irregularities in the case arising out of 2G scam.
Though Indians were no strangers to scams, spectrum loss was beyond their wildest imagination.
Analysts say the Sun Network's fundamentals may be sound but the troubles faced by Maran have caused a lot of volatility.
The man who led this journey is 50-year-old Kalanithi Maran, chairman and managing director of the Sun Group.
A glance back at some of the important ups and down Indian Inc faced in 2018.
A look at the life and times of maverick businessman Chinnakannan Sivasankaran
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