Aircel-Maxis Case: As CBI gets sanction from centre to prosecute, NSE Chairman Ashok Chawla resigns

As per revised rules, senior government officials covering positions of joint secretary and above cannot be prosecuted without the approval of the Centre, whether or not the officials are still in active service.

On Friday, Ashok Chawla resigned as the chairman of the National Stock Exchange(NSE) hours after the Central Bureau of Investigation (CBI) informed the court that the Centre has granted sanction to prosecute him in the Aircel-Maxis case.

According to the reports, the CBI on Friday had submitted before a special CBI court that it had got sanction from the government to prosecute five bureaucrats, including few serving officers for their alleged involvement in the Aircel-Maxis case. Following the centre’s sanction for prosecution, Ashok Chawla resigned from the post of NSE Chairman.

The NSE has issued a statement on Friday night saying, “Public Interest Director/ Chairman of the Board of Directors of the National Stock Exchange of India Ltd with immediate effect in light of recent legal developments”.

- Advertisement - - Article resumes -

Addition to Chawla, Former economic affairs secretary- Ashok Jha, Kumar Sanjay Krishna, a former joint secretary in the finance ministry, Dipak Kumar Singh, a former director in the finance ministry and Ram Sharan, former under-secretary in the finance ministry have also been under the scanner for their alleged role in the Aircel-Maxis deal. Reportedly, out of the five, three are still serving working with various government departments while other two have retired.

Earlier, the special court had granted two months time to the CBI to obtain the necessary sanction from the centre to prosecute the officials. As per revised rules, senior government officials covering positions of joint secretary and above cannot be prosecuted without the approval of the Centre, whether or not the officials are still in active service.

Ashok Chawla, former finance secretary had taken over as the chairman of the NSE on March 28, 2016. Prior to his appointment, he had also served as civil aviation secretary and chairperson of the Competition Commission of India (CCI), among other roles. Chawla quit as Yes Bank chairman in November last year.

The CBI in July had filed charge sheet against former Union minister P Chidambaram, his son Karti and other 10 individuals, including few public servants and six companies for their alleged irregularities and criminal conspiracy in the Aircel-Maxis deal case.

The Centre had also given approval to the CBI to prosecute former union minister P Chidambaram. The CBI also informed the court they have additional evidence to prove that P Chidambaram and his son Karti Chidambaram closed bank accounts in foreign countries after charge-sheet was filed in the case.

The CBI is probing alleged irregularities in grant of FIPB approval in Aircel-Maxis deal, while the ED is probing alleged money-laundering related to the deal. It is accused that Chidambaram misused his capacity as finance minister in the UPA government to illegally grant FIPB approvals, and in exchange his son, Karti Chidambaram was given kickbacks.

The FIPB approval was given to Malaysia’s Maxis for buying Indian telecom company Aircel for ₹3,500 crore in 2006. According to FIPB rules applicable at that time, Cabinet Committee on Economic Affairs (CCEA) should sanction foreign investment of such value, but the approval was given by the Finance Minister without referring it to CCEA. After the FIPB approval, Aircel allegedly paid Karti ₹26 crore through a company linked to him.


Share and Support:
Support OpIndia by paying for content

Most read articles recently

Philip Kotler and Narendra Modi

Philip Kotler endorses the award to PM Modi, which Rahul Gandhi had tried to run down

Earlier Rahul Gandhi, with help from fake news peddling website The Wire, had tried to insinuate that the award was insignificant.

Chidambaram accuses Modi government of fiscal indiscipline, netizens cannot stop laughing

Chidambaram stated that the Modi government is following a 'scorched earth' policy by promising big schemes for which there is no money.

Gujarat couple prints Rafale details in their wedding card, ask people to vote for Modi instead of giving gifts

A unique wedding invite from this Gujarat based couple to make people aware about the Rafale deal
Dr. Chaddha of Vicky Donor

Rahul Gandhi wins first ever Dr. Chaddha Presidential Award for being a lucky sperm

Congress has decided to celebrate 19 June as World Sperm Day. Rahul Gandhi is supposed to be the Prime Minister of India by then.

Twist in the tale: Kerala activist claims it was Kanakdurga who beat up her mother-in-law, a staunch Ayyappa devotee

Sandeep Varier alleged that it was actually Kanakdurga who had attacked her mother-in-law, a staunch Sabarimala and Lord Ayyappa devotee

Chhattisgarh: Congress government to cancel the ambitious Ayushman Bharat scheme in state

Recently, Mamata Banerjee also pulled West Bengal out of Ayushman Bharat scheme, accusing Modi of taking full credit

Voter registration: A step-by-step guide to register online on the voter list

A comprehensive guide for the first time voters to register themselves on the portal and ensure their participation in the world's largest democracy

Mahendra Singh Dhoni: Not going gentle into the dark night

Dhoni's remarkable match-winning innings in an important match under extreme pressure only shows that he has still got what it takes
Rahul Gandhi-Rafale

French Ambassador calls out Congress mouthpiece National Herald over latest Rafale lies

The fake news was first shared and spread by the usual propagandists on Twitter like Prashant Bhushan
Fact-Check: No trees were felled to make helipad for PM Modi in Odisha, only 40 shrubs

Media reported ‘thousands of trees felled ahead of PM Modi’s Odisha visit to make helipad’, turns out, it was a lie

The East Coast Railways Spokesperson has said that no trees were felled to make a temporary helipad for Prime Minister Modi in Odisha, only some shrubs and saplings were removed

Latest articles

Connect with us

127,555FansLike
103,770FollowersFollow
6,643SubscribersSubscribe

Don't miss these