s
Nidhi Land
   Matrimonial |  Properties |  Jobs |  Classifieds |  Ask Doctor |  Live TV |  Cartoon |  Sponsored Greetings |  Astrology  |   Red Chillies |  Tips for life |  Tribute |  Debate




      Search in

Monday, May 14, 2012 3:08:04 PM (IST)  

No Equity in any Telecom Firm: Chidambaram

New Delhi, May 14 (IANS): Stating that neither he or his family had any connection with Aircel or any other telecom company, an emotional Home Minister P. Chidambaram Monday said: "Plunge a dagger in my heart rather than question my integrity."

He was giving a clarification in the Rajya Sabha on allegations that his son's company was transferred money, before the Foreign Investment Promotion Board (FIPB) cleared a proposal from Aircel pertaining to its telecom service venture in 2006.

Chidambaram, who was finance minister at that time, said there were no illegitimate transfers were made to any company involving any of his family members. "Neither I, nor any member of my family has any equity in any telecom company."

The issue was raised in the upper house by Leader of Opposition Arun Jaitley. He did not take any names, but alluded that Oxbridge -- in which Advantage Consultancy, partly owned by Chidambaram's son Karthi -- received money from Aircel.

Seeking to give more details, Kaitley said Maxis, the Malaysian company which acquired shares in Aircel, had declared to Malaysian stock exchange that it acquired more than 99 percent shares in Aircel.

But the Indian policy permits no more than 74 percent share to foreign investors in telecom ventures. The money was allegedly transferred by Aircel Chief C. Sivasankaran on the eve of FICB clearance to the Aircel-Maxis deal.

The home minister, however, said his "family" had nothing to do with Oxbridge.

"It is true my son had shares in Advantage consultancy. But young men have all the right to a start business. He invested Rs.1.8 lakh in the company, which had another share holder -- Rajesh," the home minister said.

The minister, however, said Karthi had sold his share in the firm to his friend and has no holdings in the company. He further clarified that Advantage took shares in Oxbridge only in 2011, much after the 2006 clearance to the Aircel-Maxis deal.

The leader of opposition questioned how both Oxbridge and Advantage had the same e-mail address in 2006, to which Chidambaram said he was not aware "if they shared the same web address".

"I don't deny that the promoters of Oxbridge and Advantage did know each other. All are doing business in Chennai," he said.

He also said whether or not the Malaysian company gave wrong information to some other country could be examined by the finance ministry. But the FIPB gave its clearance in 2006 for a stake below 74 percent.

He also dismissed allegations for delaying the process of clearance.



Stay updated wherever you go with Daijiworld.com and Daijiworld 24X7 tv channel mobile apps.
CLICK HERE to download it for your device.
(available on Android and IOS)

Comments on this article
Sunil D'souza,
Tuesday, May 15, 2012

Inteligent chor of congress....without winning election. what a shame on us being Indian. Still case pending in the court.

Rakesh shetty, mangalore
Monday, May 14, 2012

ONE OF FRAUD AND CORRUPT UPA LEADER CHIDU. WHY ITALY LADY TAKING NO ACTION AGAINST THIS CRUEL MAN?

 
Print this Article
Email this article to your friend
 
 
Write your Comments
 
News Title No Equity in any Telecom Firm: Chidambaram
Your Name
Native Place / Place of Residence
Your E-mail
Your Comment
[Please limit your comments within 2000 characters]

You have characters left.
Disclaimer: Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that under 66A of the IT Act, sending offensive or menacing messages through electronic communication service and sending false messages to cheat, mislead or deceive people or to cause annoyance to them is punishable. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.
 
Security Validation
Enter the characters in the image above
 
 
Published by Daijiworld Media Pvt Ltd Mangalore
Editor-in-chief : Walter Nandalike


Corporate Office :
Daijiworld Residency,
Airport Road, Bondel Post,
Mangalore - 575 008
Karnataka India
Telephone : +91-824-2982023
City Office :
First Floor,
Divya Deepa Arcade,
Bendorewell, Kankanady,
Mangalore - 575 002
Karnataka India
Telephone : +91-824-4259372
e-mail   General enquiry: office@daijiworld.com, News & Info : news@daijiworld.com

Disclaimer | Privacy Policy | About Us
Copyright ©2001 - 2014. All rights reserved.
Our Franchise Offices
Kishoo Enterprises, Maithri Complex, 3rd Floor,
Udupi Service Bus Stand, Udupi, Karnataka. Pin 576101
Telephone : 0091-820-4295571
e-mail : udupi@daijiworld.com
Daijiworld Middle East FZE
P.O.Box: 84772, Dubai, UAE
Tel: 971-50-6597629  Fax: 971-4-2639207
Email: dubai@daijiworld.com
There has been a database error. Technical Support has already been notified. You will be informed when this issue is resolved. Thank you for your patience!