BJP leader Subramanian Swamy on Friday got two weeks from the Supreme Court to place “concrete” material before it to prima facie prove that former Finance Minister P. Chidambaram deliberately granted FIPB clearance to the Aircel-Maxis deal in 2006 without placing it before the Cabinet Committee for Economic Affairs (CCEA) for vetting.
Arguing in person before a Bench led by Chief Justice of India J.S. Khehar, Dr. Swamy contended that the FIPB approval of any foreign investment worth over Rs. 600 crore should first be vetted by the CCEA.
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The total transactions in the Aircel-Maxis deal, Dr. Swamy contended, was about Rs. 3,500 crore or $800 million dollars.
“Was he [the former Finance Minister] aware of the fact that the deal was over Rs. 600 crore and he had to send it to the CCEA?” Chief Justice Khehar asked.
“He was the Finance Minister. There is a presentation of the proposal before the FIPB. He needs to know,” Dr. Swamy responded.
“That he is supposed to have known is quite another thing... What material do you have to show that he knew? What is the material you have placed before us to prove his knowledge?” Chief Justice Khehar asked.
“Fact of the matter is no minister can claim he did not know... The matter is before the CBI, they have examined and had filed sealed cover reports before this court in 2015. The CBI should now tell this court what progress has been made,” Dr. Swamy submitted.
“You have to give us concrete material that he was privy... We will issue notice to the smallest, biggest, the highest person... but you have to prove your allegation with records first. Show us material,” said Chief Justice Khehar.
The court offered Dr. Swamy some time to bring the material. The latter agreed to provide the court with the material in two weeks.
Recently, the 2G Special Court discharged all the accused, including the Maran brothers, in the case.
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