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.
The federal agency has filed its case under the criminal sections of the Prevention of Money Laundering Act (PMLA) taking cognisance of a recent first information report (FIR) registered by the Central Bureau of Investigation (CBI) in the same case, they said.
The trial court had earlier said that the allegations against Chidambaram were found serious, therefore, he was remanded to police custody.
The UTOO 'soft' launch was in June and the full commercial launch is slated for September.
While posting the matter for hearing on Thursday, the bench said: "We are conscious that we should not usurp the jurisdiction of the concerned trial court".
While smart boys like the Ruias of Essar, Ajay Piramal, Max India promoter Analjit Singh laughed all the way to the bank, the Tatas, Anil Ambani, Malaysian tycoon T Ananda Krishna of Maxis (which invested in Aircel), Sistema, and Norway's Telenor burnt their fingers, notes Surajeet Das Gupta.
'I had done 23 years of very satisfying service -- 10 years in the police and 13 years in the Enforcement Directorate.' 'I had done law enforcement and thought the next step should be towards contributing to make good laws.'
Sources in the industry said Tata Teleservices had made an attempt to sale one-third stake to South Korean Telecom. But the deal did not materialise because of differences over valuation.
He allegedly advanced the cut-off date to favour accused firms in allocation of 2G licences.
The ED told the apex court that during the investigation it found Chidambaram had 11 'immovable properties' and 17 bank accounts abroad and his custodial interrogation was required to unearth the larger conspiracy in the case.
The man who led this journey is 50-year-old Kalanithi Maran, chairman and managing director of the Sun Group.
Objective of the examination is to study the tax implications of such deals.
Analysts say the Sun Network's fundamentals may be sound but the troubles faced by Maran have caused a lot of volatility.
A consummate deal-maker, the former Aircel boss raked in the moolah in many, but lost a packet in several others.
Corporate legal cases kept India Inc on its toes in 2014 as high stake matters on coal, telecom and mining came up in the Supreme Court, which also sent Sahara Group chief Subrata Roy to jail.
He said the plea pertained to his liberty, which was 'illegally curtailed'.
Cleaning up India's grubby business climate is top of the agenda for both regulators and the government.
They are sure not to like this particular one, observes N Sathiya Moorthy
Karunanidhi was convinced that using the 2G cases against the DMK and reopening the fodder case against Lalu Prasad Yadav were products of the Congress leadership's short-sightedness. A revealing excerpt from A S Panneerselvan's Karunanidhi: A Life.
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.
A look at the life and times of maverick businessman Chinnakannan Sivasankaran
A glance back at some of the important ups and down Indian Inc faced in 2018.
Few top honchos of India Inc did very well in 2014.
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