Granted approval to Aircel-Maxis deal in normal course of business, says P Chidambaram

Granted approval to Aircel-Maxis deal in normal course of business, says P Chidambaram

CHENNAI: Former Finance Minister P Chidambaram today said he had granted approval to the Aircel-Maxis deal "in the normal course of business."    

"In the Aircel-Maxis case, taking into account the face value of the foreign investment, the FIPB (Foreign Investment Promotion Board) submitted the case to the Finance Minister and sought approval.  

"As FM, I granted approval in the normal course of business," he said in a statement. Chidambaram's remarks comes a day after the Supreme Court asked the CBI to file status report on the probe being carried out on various aspects of the Aircel-Maxis deal.