As of now Chidambaram may walk free saying that there was no FIR in connection with Aircel Maxis case. But the former finance minister was roasted for six hours and it is a big news in the media. The investigators, who were ready with their firepower, started posing questions at the former minister. Apart from Aircel case at least 54 FIPB approvals given under the UPA dispensation are under the scanner and related to wrongful sanction from 2004 to 2009 and from 2012 and 2014. Now, Aircel is non-existent and closed once for all. The customers of Aircel were put in trouble. It was very clear that the wrong disposal of over Rs 600 crores ought to have been cleared by CCEA for foreign investment. Instead, in the Aircel case, the total inflow of foreign exchange involved in the acquisition of shares was Rs 3520 crores and it ought to have been approved by the CCEA. Of course, these approvals were given by the then finance minister and hence he was grilled more time. P. Chidambaram can brush aide and say that it was a casual inquiry and the findings were already in the file with Enforcement Directorate more and more information is being extracted as the evidence has been corroborated by the finance ministry officials as claimed. Former finance minister obtained bailable warrant to safeguard his public interest in this particular case.
(The views expressed by the author in the article are his/her own.)