No violation of rules in FIPB nod to Aircel-Maxis deal: PC

No violation of rules in FIPB nod to Aircel-Maxis deal PCNEW DELHI: Former Finance Minister P Chidambaram tonight maintained that there was no violation of rules in the grant of FIPB approval to Aircel-Maxis deal in 2006.

Reacting to the CBI charge sheet regarding his decision in the Aircel-Maxis case, he said the file regarding the case was put up before him by officials and he approved it “in the normal course”.
“In the Aircel-Maxis case, the FIPB sought the approval of the Finance Minister in accordance with the rules. The case was submitted through the Additional Secretary and Secretary, DEA. Both of them recommended the case for approval. Approval was granted by me, as Finance Minister, in the normal course”, Chidambaram said in a statement.

He said “I understand that the officials of FIPB who dealt with the matter have explained to the CBI that under the rules, as they stood then, the case required only the approval of the Finance Minister.

“I am sure the files will bear out the correctness of this position,” Chidambaram added.

Chidambaram said his attention has been drawn to a portion of the charge sheet filed by CBI in the Aircel-Maxis case and added “the FIPB is chaired by the Secretary, Department of Economic Affairs. It recommends proposals for the approval of the Finance Minister and, where required under the rules, the approval of the CCEA”.–PTI

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