The questioning has been done under the Prevention of Money Laundering Act at our Delhi office, says an ED official
The Enforcement Directorate (ED) questioned Karti Chidambaram, son of Congress leader P Chidambaram, in connection with the Aircel-Maxis deal case on Tuesday.
"The questioning has been done under the Prevention of Money Laundering Act at our Delhi office," said an ED official.
In January this year and December last year, the agency had conducted searches on the Chennai and Delhi premises of Karti in the case.
The case, arising out of the 2G spectrum scam, relates to Foreign Investment Promotion Board (FIPB) clearance in 2006 to a Mauritius-based subsidiary of Maxis, Global Communication Holding Services Ltd, for investment in telecom company Aircel, which declared bankruptcy earlier this year.
The CBI and the ED lodged cases in 2011 and 2012, respectively. The ED has alleged that Karti was paid Rs 26 lakh (by the seller of the equity shares of Aircel Ltd to Maxis) on April 11, 2006, for FIPB approval granted to Aircel.
An agency official said that Advantage Strategic Consulting was owned by Ravi Viswanathan and Padma Viswanathan and on September 15, 2008, CBN Reddy acquired stake in Advantage Strategic.
In 2005, Malaysian company Maxis wanted to buy 74 per cent stake for Rs 4,000 crore in telecom company Aircel owned by Chennai businessman C Sivasankaran, which was on the verge of bankruptcy.
During probe, it was found that Ausbridge Holding and Investments Pvt Ltd — a company in which Karti Chidambaram is a 94 per cent equity holder — bought shares in Aircel's holding company —Advantage Strategic Consultancy Pvt Ltd, just before clearance from the FIPB to the Aircel-Maxis deal.
The agency further stated that there were also financial transactions between Chess Global Advisory Services Pvt Ltd and Advantage Strategic Consultancy Pvt Ltd, where Karti had been a director.
In another case of FIPB clearance related to INX media, the CBI had arrested Karti. It is alleged that his company took money from INX media, then owned by businessman Peter Mukerjea and his wife Indrani, to influence public servants' probe into foreign investments in the company from three Mauritius-based entities.
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