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Enforcement directorate (ED) - probe in the Aircel-Maxis money laundering case

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  1. Hindustani78

    Hindustani78 ELITE MEMBER

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    ED questions for second time in Aircel-Maxis PMLA case


    First grilled at the central probe agency’s office on April 10 for about ten hours in connection with the case.

    Updated: Apr 17, 2018 20:34 IST
    Press Trust of India, New Delhi

    The Enforcement directorate (ED) on Tuesday questioned for the second time in connection with its probe in the Aircel-Maxis money laundering case, officials said.

    They said the investigating officer (IO) of the case recorded statement under the Prevention of Money Laundering Act (PMLA).

    First grilled at the central probe agency’s office on April 10 for about ten hours in connection with the case.

    They has been summoned for questioning next week.

    The case relates to the Indian Foreign Investment Promotion Board approval granted in 2006.

    The Supreme Court on March 12 directed investigating agencies -- the Central Bureau of Investigation and the Enforcement directorate (ED) -- to complete their probe into the 2G spectrum allocation cases, including the Aircel Maxis alleged money laundering case, in six months.

    The agency had said Indian Foreign Investment Promotion Board approval in the Aircel-Maxis FDI case was granted in March 2006 even though was competent to accord approval on project proposals only up to Rs 600 crore and beyond that it required the approval of the Cabinet Committee on Economic Affairs (CCEA).

    The Enforcement directorate (ED) is probing “the circumstances of the Indian Foreign Investment Promotion Board approval granted (in 2006) ”, the official said.

    “In the instant case, approval for Indian Foreign Direct Investment of $800 million (over Rs 3,500 crore) was sought. Hence, the Cabinet Committee on Economic Affairs was competent to grant approval.

    “However, approval was not obtained from the Cabinet Committee on Economic Affairs,” it had alleged.

    The agency said its probe revealed that the case of the said Indian Foreign Direct Investment was “wrongly projected as an investment of Rs 180 crore so that it need not be sent to the Cabinet Committee on Economic Affairs to avoid a detailed scrutiny”.

    The Enforcement directorate (ED) is probing the Aircel-Maxis deal under the Prevention of Money Laundering Act after taking cognisance of a 2011 Central Bureau of Investigation First Information Report in the case.

    The former Union Cabinet Minister, Finance Palaniappan Chidambaram had earlier described the Enforcement directorate (ED) action in this case as a “crazymixture of falsehoods and conjectures” and said that the charge sheet filed by probe agencies had been accepted by the court.

    However, the agencies have maintained that the First Information Report in the case has not been quashed.

    In September last year, the Enforcement directorate (ED) had attached assets worth Rs 1.16 crore and a firm allegedly linked to them in connection with this case.