Finance Ministry officials under scanner in Aircel-Maxis deal

Finance ministry officials who were part of the Foreign Investment Promotion Board (FIPB) clearance given to the Aircel-Maxis deal are under scanner of the Central Bureau of Investigation (CBI) and some of them are likely to be questioned by the agency.

As the CBI prepares to file the first charge sheet in the case, sources said that some finance ministry officials are likely to be called to understand the reasons for granting the FIPB clearance to the deal, which faces corruption allegations.

While the agency refused to give details, sources said that it will look into the clearance given to the takeover of Aircel by Malaysian telecom major Maxis in 2006. According to sources, the first charge sheet will be filed soon against then-telecom minister Dayanidhi Maran and others on charges of criminal conspiracy and provisions of the Prevention of Corruption Act.

They, however, clarified that if any mala fide intention is found in the clearance, it will be part of further charge sheets which might be filed if needed. The probe into the FIPB clearance will begin after filing of the first charge sheet in the case and any conclusion will be drawn after going through the documents and examination of officials concerned of the finance ministry.

The sources said that further probe into FIPB could take CBI knocking on the doors of top echelons of the ministry who were at the helm of affairs during the clearance. The CBI's move to file a charge sheet comes after attorney general (AG) Mukul Rohatgi, based on available material, gave his nod to prosecute Maran and others in the case.

Maxis wrote to CBI directorate of prosecution O.P. Verma claiming that the deal was done with the full consent of the Aircel Board of directors. The matter was escalated to the office of the AG as there was a difference of opinion between the views of the investigation team and CBI director Ranjit Sinha on charge-sheeting the Maran brothers.

While the team was of the view that enough evidence was available indicating role of Marans, Sinha highlighted apparent weak points in the draft charges and available proof. In 2011, the CBI filed a first information report in the case alleging that Maran as telecom minister had used his influence to help Malaysian business tycoon T. Ananda Krishnan acquire Aircel by coercing its owner C. Sivasankaran.

In association with Mail Today Bureau