The Central Bureau of Investigation has registered a fresh case of corruption against former finance minister P Chidambaram's son and Congress MP, Karti Chidambaram, for allegedly giving relief to alcoholic beverage company Diageo Scotland over a ban on the duty-free sale of its whisky, officials said on Thursday.
All FIPB records will now be digitised; old and unnecessary files will be weeded out
The Foreign Investment Promotion Board (FIPB) on Monday deferred a decision on Vodafone's Rs 10,141 crore (Rs 101.41 billion) proposal to buy out minority shareholders in its Indian arm as the Ministry of Home Affairs is yet to give its comments.
The chargesheet names 14 accused, including the Congress leader's son Karti Chidambaram, Peter Mukherjea and Indrani Mukerjea.
The foreign investment regulator cleared a decision on Vodafone Group Plc's $1.6 billion plan to take full ownership of its local unit.
The Foreign Investment Promotion Board on Friday gave conditional approval to the proposal of InterGlobe Aviation which would pave the way for fresh foreign direct investment in private air carrier IndiGo.
The HC asked him to furnish a bail bond of Rs two lakh and a surety of like amount.
Any foreign investment in excess of 24 per cent in an industrial unit, which manufactures items reserved for micro and small enterprises, will require prior approval of the Foreign Investment Promotion Board, according to Press Note 6 issued by the government.
FIR says that the officials by virtue of influence exercised over them by Karti, not only ignored the serious illegality on the part of INX Media on both the counts but also deliberately showed undue favours to INX Group.
Both lifestyle and technical publications are allowed up to 100 per cent foreign investments, according to the norms laid out by the Ministry of Information and Broadcasting. The Al-Abbas group of the UAE, through its publishing arm, Twenty First Century Publishing, will be the 50:50 joint venture partner of Bangalore-based Connoisseur Publishing.
Indraprastha Gas on Tuesday said it has obtained the approval of FIPB for transfer of equity shares to non-resident Indians, foreign institutional investors and foreign venture capital funds in its proposed initial public offer.
World's second largest mobile operator Vodafone Plc of UK on Tuesday sought FIPB approval to invest Rs 10,141 crore (Rs 101.41 billion) in raising its stake in the Indian arm to 100 per cent.
The case is related to the alleged irregularities in granting clearance by the Foreign Investment Promotion Board to INX Media, once owned by Peter and Indrani Mukherjea, for receiving overseas funds to the tune of Rs 305 crore.
P Chidambaram's son Karti was arrested on February 28 at the Chennai airport on his return from the United Kingdom, for his alleged role in facilitating Foreign Investment Promotion Board clearance for INX Media Ltd. and its directors, Peter and Indrani Mukerjea.
A panel led by the secretaries of the DEA and the DIPP would conduct a quarterly review on the pending proposals.
Apart from them, Chidambaram's wife -- Nalini -- has been chargesheeted by the CBI in the Saradha chit-fund scam for allegedly accepting a bribe of Rs 1.4 crore.
Rakesh Gangwal's holding is considered FDI even though the majority stake in Caelum is held by NRIs
The government on Wednesday said it has cleared Norwegian telecom firm Telenor's proposal to invest Rs 1,000 crore in a joint venture company in the telecom sector.
Chidambaram and his son Karti Chidambaram were named in the chargesheet filed by the CBI in the case on July 19.
Declining urgent hearing, the top court observed that judges have more cases 'than they can handle'.
Mauritius is back in the news, and as usual not for the right reasons.
The United Progressive Alliance government has rejected Janata Party chief Subramanian Swamy's allegations against Home Minister P Chidambaram in the Aircel-Maxis equity issue saying they were "totally baseless".
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.
Jet-Etihad deal documents among those leaked: CBI
The Department of Telecom, Department of Industrial Policy and Promotion, Ministry of Home Affairs, Ministry of External Affairs and the Department of Economic Affairs had to give their comments on the proposal, sources said.
The application for narco analysis test assumes significance as the agency yesterday alleged that Karti was not cooperating in the investigation and was 'evasive' in his replies.
Chidambaram had on Wednesday rushed to a trial court for protection from arrest in Aircel-Maxis case before approaching the Delhi high court in connection with the INX Media case, in which he has been asked by probe agencies to join investigations.
No home food for Karti, medicines allowed only on prescription.
Chidambaram, 74, was arrested by the Central Bureau of Investigation on August 21 and is lodged in Tihar jail under judicial custody in the corruption case.
Justice Suresh Kait issued a notice to the CBI on Chidambaram's bail plea in which he has claimed that it was the case of 'political vendetta'.
She said during Question Hour in Rajya Sabha that Bharatiya Janata Party got a massive mandate on the basis of its election manifesto which opposes FDI in multi-brand retail.
During the arguments, the ASG said FIPB officials have also been interrogated and all of them are holding high offices in their respective fields.
Justice A K Pathak had asked Chidambaram to join questioning and cooperate in the investigation as and when called by the CBI.
The court had also directed Chidambaram to cooperate with the investigation in both the cases as and when required.
The agency recorded his statement under the Prevention of Money Laundering Act with some specific queries on the circumstances and procedures adopted by the now-defunct Foreign Investment Promotion Board while giving approval to the Aircel-Maxis deal during his tenure.
India' can't succeed unless it is made easier for people to do business.
"Considering the facts and circumstances, I am of the view that police custody is justified," the judge said.
The trial court had earlier said that the allegations against Chidambaram were found serious, therefore, he was remanded to police custody.
Retail giant Tesco will make foray into Indian retail market as it has signed an agreement with Tata Group-led Trent.
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.
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