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.
Coca-Cola's proposal for giving Indian shareholders differential voting rights is believed to have come up for discussion at Foreign Investment Promotion Board's meeting held on March 13, sources said in New Delhi on Friday.
The father-son duo are in the radar of the probe agencies in another case concerning the Aircel-Maxis deal.
"As FM, I granted approval in the normal course of business," he said in a statement.
The chargesheet names 14 accused, including the Congress leader's son Karti Chidambaram, Peter Mukherjea and Indrani Mukerjea.
The CBI had sought to set aside a special judge's March 5 order that directed the agency to allow inspection of documents kept in the 'malkhana' (room where case properties are kept) by the accused or their counsel.
However, the finance ministry is yet to apply its mind on whether to merge the interim Pension Fund Regulatory and Development Authority with Insurance Regulatory and Development Authority or have two separate regulators for pension and insurance.
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.
Star's application seeking uplinking from India appears to have hit yet another roadblock with the Foreign Investment Promotion Board raising certain queries in its last meeting.
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.
The foreign investment regulator cleared a decision on Vodafone Group Plc's $1.6 billion plan to take full ownership of its local unit.
A panel led by the secretaries of the DEA and the DIPP would conduct a quarterly review on the pending proposals.
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.
Chidamabaram's counsel told the top court that he is sought by ED to be "vicariously involved" in the INX Media money laundering case as he is the father of Karti Chidambaram, who according to the probe agencies tried to influence the Foreign Investment Promotion Board members.
Agenda for FIPB meeting on Jan 18 doesn't mention its application.
This can mean companies like Apple, Zara can sell in India through wholly-owned subsidiaries
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.
US-based coffee retail chain Starbucks on Friday said it was withdrawing its application to operate single-brand retail stores in India, thus delaying its entry into the country.
Special Judge O P Saini took strong objection to the agencies seeking repeated adjournments.
About 11 entities may be charged in the first charge sheet in the case, the sources said without elaborating on the issue.
The FIPB, headed by Finance Secretary Arvind Mayaram, at its meeting on Tuesday considered 35 proposals.
His son Karti was questioned by the agency in the same case on Thursday for about six hours.
The Central Bureau of Investigation had called Karti for questioning on Thursday in connection with the foreign investment clearance given in the Aircel-Maxis deal in 2006 when his father Chidambaram was the finance minister.
Karti, through his lawyer, has refused to appear before the agency saying a special court had discharged all the accused in the matter.
It is understood that the agency wanted to put a fresh set of questions to him regarding the deal and hence had asked him to appear.
With the abolition of the Foreign Investment Promotion Board (FIPB), Amazon's proposal will now be vetted by the Department of Industrial Policy and Promotion (DIPP) under the commerce ministry.
A government panel on Tuesday proposed raising foreign investment limits in sectors like defence, multi-brand retail and telecommunications, to spur investment in the country and tide over the Current Account Deficit woes.
Earlier, SC had given two weeks to prove Chidambaram deliberately granted FIPB clearance in 2006
Tech giant allowed to set up fully owned shops, with 30% local sourcing like everyone else.
Three suspected associates of Karti --Bhaskar Raman, Ravi Vishwanathan and Mohanan Rakesh -- are also being questioned
Karti granted interim protection from arrest till July 10 .
Earlier, Registrar of Companies had approved the change of name of cellular major Hutch Essar to Vodafone Essar following the British mobile major's acquisition of controlling stake in the joint venture in May.
This is the first time that the 73-year-old former finance and home minister is being grilled by the ED in this case.
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.
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