Saudi Telecom Co, Saudi Arabia's state-run operator, has entered the Indian market by buying 25 per cent equity in Malaysia's Maxis that owns a controlling stake in Chennai-based mobile operator Aircel.
The Bharatiya Janata Party on Wednesday took potshots at the elevation of Sushil Kumar Shinde to the home ministry from power soon after the multiple electricity grid failure and said P Chidambaram should not have been given finance portfolio because of the Aircel-Maxis deal controversy.
The Supreme Court on Tuesday dismissed the contempt plea of Bharatiya Janata Party leader Subramanian Swamy against Chennai-based Advantage Strategic Consulting Private Ltd and another firm for filing a defamation suit in Singapore against him.
A Central Bureau of Investigation (CBI) official said the agency would soon call Malaysian businessman T Ananda Krishnan for questioning. Maxis is part of the business empire of Krishnan, who is expected to soon fly to New Delhi.
As former telecom minister A Raja secured bail in the 2G spectrum case, Tamil Nadu Chief Minister Jayalalithaa on Tuesday said the case appeared to be getting "diluted". Jayalalithaa was replying to a question from reporters on a Delhi court granting bail to Raja, the prime accused in the case, 15 months after he was sent to jail.
Aircel Ltd, a unit of Malaysia's Maxis Communications Bhd, will invest about $500 million in the next three years to expand coverage in India.
The court had also directed Chidambaram to cooperate with the investigation in both the cases as and when required.
Solicitor General Tushar Mehta, representing CBI and ED, contended that the Congress leader was evasive during interrogation and was giving long answers.
The Supreme Court on Monday allowed Congress MP Karti Chidambaram, who is facing criminal cases that are being probed by the Enforcement Directorate and the Central Bureau of Investigation, to travel abroad.
The Central Bureau of Investigation on Wednesday sought clarifications from Standard Chartered Bank officials in connection with its probe into former Aircel chief C Sivasankaran's allegations that the then Telecom Minister Dayanidhi Maran forced him to sell his company to Malaysia-based Maxis group in 2006.
Apart from INX Media and Aircel-Maxis, the four other firms which are under the scanner are Diageo Scotland, Essar Steel, Katara Holdings and Elforge Ltd. These firms were granted FIPB approval when Chidambaram was the FM, reports Shrimi Choudhary.
During the hearing, the Central Bureau of Investigation told the court that it has already filed its reply in the case.
The court directed Chidambaram to cooperate with the ED's investigation.
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.
'People of this country cannot be kept in dark in the sensitive matter like this'
Krishnan, who already controls 46.5 per cent stake in Malaysia's largest mobile firm Maxis Communications, would launch a takeover offer for the remaining shares by May 3, said a regulatory filing on Kuala Lumpur Stock Exchange.
The plan available for Rs 99 would allow users to make local calls at Rs 1 for the first minute, 60 paise for the second minute and 40 paise for the third minute onwards. Aircel, a part of Malaysia's Maxis Communication, is India's fifth largest GSM mobile service provider with 17 million users.
The probe agency made the submission in an affidavit filed before Justice A K Pathak, who listed the matter for hearing on August 1 and extended till then the interim protection against arrest granted to Chidambaram on May 31.
The Supreme Court on Wednesday allowed former Finance Minister P Chidambaram's son Karti Chidambaram to travel abroad after depositing Rs 10 crore with its registry.
We are not a fly-by-night operator, says Sandip Das.
Aircel executives said the company could offer value to big boys like Airtel or Jio as a low-end mobile services brand
CBI had lodged an FIR on May 15, 2017, alleging irregularities in Foreign Investment Promotion Board clearance granted to INX Media group for receiving overseas funds of Rs 305 crore in 2007 during Chidambaram's tenure as union finance minister.
RCom and Aircel will hold 50 per cent each in the new company
The telecom industry is moving towards a five-plus one model.
AIADMK members on Tuesday disrupted proceedings in both houses of Parliament demanding action on former union minister P Chidambaram's son Karti on the Aircel-Maxis issue.
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.
In the wake of the 2G acquittals, here are a few high-profile cases in which question marks were raised by various courts over the CBI's probe.
Sources at the NSE as well as the President's office rejected media reports that Kovind's pulling out of the event had to do with reasons other than his packed itinerary this week.
With the home ministry rejecting the renewal of broadcast licences to Sun group, is it end of the road for Maran brothers? R Ramasubramanian reports from Chennai.
Rohatgi was made attorney general in June. In the past 2 months, his rulings have raised eyebrows for being in line with the political alignment of the government. Kavita Chowdhury reports
The Bharatiya Janata Party plans to target Sonia Gandhi and other Congress leaders on the issue of bribes in the AgustaWestland chopper deal during the United Progressive Alliance regime
Chidambaram, who was accompanied by police personnel in the police bus, was put in a special cell in the Asia's biggest prison complex as per the orders of the CBI court.
This is the first time that the 73-year-old former finance and home minister is being grilled by the ED in this case.
The Shiv Sena on Monday slammed the Congress for fielding former Union minister P Chidambaram from Maharashtra for the Rajya Sabha poll, saying the party has "damaged itself by foisting him on the state".
The Ministry had disallowed the group from taking part in auction.
Right from the early days of liberalisation, there have been political controversies surrounding several cases that landed on the FIPB table and which, in turn, have often led to court battles.
He was permanently absorbed into the ED cadre in 2014 and has headed some high-profile investigations into the 2G spectrum allocation case, the 2010 Commonwealth Games, the money laundering cases against former Union finance minister P Chidambaram and his son Karti Chidambaram, Andhra Pradesh chief minister Y S Jagan Mohan Reddy and former Jharkhand chief minister Madhu Koda, the Aircel Maxis and VVIP choppers case.
Opposition Bharatiya Janata Party and the All India Anna Dravida Munnetra Kazhagam on Tuesday created a storm in Parliament over the alleged role of Home Minister P Chidambaram in the with Lok Sabha being adjourned till noon and Rajya Sabha twice during Question Hour.
The Central Bureau of Investigation had registered an FIR on May 15, 2017 alleging irregularities in the Foreign Investment Promotion Board clearance granted to the media group for receiving overseas funds of Rs 305 crore in 2007 during Chidambaram's tenure as finance minister.
With the Congress gunning for Smriti Irani with a privilege Motion, the BJP hit back by pressing for similar action against Jyotiraditya Scindia.
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