AIRCEL-MAXIS SCAM :SWAMY BLAMES CBI FOR GIVING ESCAPE ROUTE TO PC
Monday, 28 July 2014 | PNS | New Delhi
BJP leader Subramanian Swamy has accused the CBI of going slow in the Aircel-Maxis scam and “providing escape route” to former Finance Minister P Chidambaram. In a letter to Prime Minister Narendra Modi, the BJP leader said CBI was limiting the probe only into the role of former Telecom Minister Dayanidhi Maran, while not going into the illegal FIPB clearance given to the deal by Chidambaram.
“The source of the Aircel-Maxis scam lies in the dubious illegal FIPB clearance approved by the then Finance Minister P Chidambaram in 2006. There are blatant violations in the FIPB clearance of the Aircel-Maxis deal. In 2006, when only 74% equity ownership is allowed in telecom sector to foreign companies, the Malaysian company Maxis informed the Malaysian Stock Exchange that the company had acquired more than 99% of the Aircel shares, and had yet obtained FIPB clearance.
“This fraud was committed by creating a front company headed by nominally by an Indian citizen Ms.Sunita Reddy, but the funds of the company were provided by a Maxis affiliate,” said Swamy in the letter recently wrote to PM.
He also said the fact about 30% holding of Saudi Telecom in Maxis was hushed up during the approval stage in FIPB. “This Saudi control was not taken notice by the FIPB to avoid the required clearance from IB and Home Ministry,” said Swamy.
He also pointed out to the huge differences in the price of shares of Aircel to different companies. As many 76 % shares were sold at more than Rs 3,000 crore, while the rest 26 percent was sold at just Rs 28 crore during the same period.
“The above mentioned points clearly expose the culpability of former Finance Minister Chidambaram in the Aircel-Maxis scam. Hence CBI must be instructed to deliver justice in the Aircel-Maxis deal by probing into the FIPB violations, the fountain head of the scam, especially the fraud on the equity purchase of the Aircel, which is illegal as well and Chidambaram’s culpability in the same,” said Swamy.
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