This power couple’s name has cropped up in two major scams. the fall-out could be serious
By Vishwas Kumar
Fortunes often change when regimes change. This holds true for former finance minister P Chidambaram and his wife, Nalini Chidambaram, both highly successful lawyers, who are under the CBI’s scanner for their alleged roles in two separate multi-crore scams.
While Chidambaram’s links with brothers Dayanidhi and Kalanithi Maran, both accu-sed in the Aircel-Maxis deal, are under the scanner, in the case of Nalini, it is her association with Sudipta Sen, prime accused in the Saradha chit fund scam, that is the focus.
VESTED INTERESTS?
It is no coincidence that though these allegations against the couple came to light in the last two years of UPA-II’s regime, the CBI kept dragging its feet over them. But with a change in government, it has started a preliminary investigation into these matters.
In 2012, the CBI hinted at Chidam-baram’s role when it was probing the 2G scam and ferreting out information on the Maran brothers and their Aircel-Maxis deal. This controversial deal took place when Dayanidhi and Chidambaram headed the telecom and finance ministries, respectively, during UPA-I’s tenure between 2005-2006.
According to the CBI chargesheet, Dayanidhi misused his authority as telecom minister—from May 26, 2004, to May 13, 2007—to force businessman C Sivasankaran to sell off his telecom company, Aircel, to
T Ananda Krishnan, a Malaysia-based business tycoon. Krishnan was a close business partner and family friend of the Marans.
Soon after the deal, Krishnan’s companies invested around Rs. 600 crore in Marans’ companies. The CBI alleged it was a “bribe amount” for the Aircel-Maxis deal.
The CBI also chargesheeted Dayanidhi’s brother, Kalanithi, along with Krishnan, Malaysian national Augustus Ralph Marshall and four firms. These firms were Sun Direct TV Pvt Ltd, Maxis Communication Berhad, South Asia Entertainment Holding Ltd and Astro All Asia Network PLC in the Aircel-Maxis case. The case has now gone for trial in the 2G Special Court of OP Saini.
Since the Aircel-Maxis deal involved selling off stakes to foreign companies, it required the approval of the Foreign Investment Promotion Board (FIPB). This board was headed by finance minister Chidambaram, who cleared the deal.
LIMITED MANDATE
The CBI recently informed the 2G court that the FIPB’s approval was a “mistake”, and was investigating “why Chidambaram had cleared the nearly `3,500 crore deal in 2006 when he was competent to give approval for deals only up to Rs. 600 crore.”
CBI prosecutor KK Goel recently told Judge Saini: “Your (judge) query was on FIPB approval. We are showing documents which show the power of the then finance minister. Power was vested in the then finance minister to give FIPB approval of up to Rs. 600 crore.
“For investment of over Rs. 600 crore, the Cabinet Committee on Economic Affairs (CCEA) is the competent authority to give approval. This is under investigation and we have not concluded the probe on this aspect yet.” Incidentally, the CCEA, then, was headed by Prime Minister Dr Manmohan Singh. Chidambaram, however, denied allegations made by the CBI.
Meanwhile, the then Janata Party chief, Subramanian Swamy (now a BJP member), wrote a letter to CBI director AP Singh on April 20, 2012, requesting that the role of Chidambaram and his son, Karti P Chidam-baram, in the Aircel-Maxis case be probed. He hinted at a “quid pro quo” between both parties. The letter urged Singh to look into details of money flow in various companies. These were the questions he had raised:
* Have you noticed the irregularities and huge money trail during the period from 2005 in certain companies like Ausbridge Holdings and Investments Private Ltd. and AF Mentor Consulting Private Ltd., where Karti P Chidambaram has majority shares?
* Have you noticed Ausbridge Holdings and Investments Pvt Ltd., in turn, has majority shares in Kaiser Surya Samudra Resorts Private Ltd and Advantage Strategic Consulting Private Ltd. and there have been huge money flows and purchase of properties by these companies?
* Have you noticed that during the Aircel-Maxis deal period, Karti P Chidambaram-controlled Advantage Strategic Consulting Private Ltd had several money transactions with Aircel Televentures Ltd.controlled by C Sivasankaran?
SHADY LINKS
Coming to Nalini Chidambaram, the CBI questioned her for several hours on September 22 for her links with Saradha CMD Sudipta Sen. She was questioned about her alleged role in a television channel deal between him and journalist Manoranjana Sinh, estranged wife of Congress leader Matang Singh. Manoranjana and Nalini are close friends.
Nalini’s role first come to light after Sen’s explosive letter to CBI director AP Singh, where he divulged the names of his scam beneficiaries, and it was leaked to the media.
The letter dated April 2013, alleged that two people had damaged him hugely. He mentioned Manoranjana Sinh and Matang Sinh. He alleged: “Mrs Manoranjana Sinh contacted us for selling her Positive Groups and took me to Chennai to the chamber of Mrs Nalini Chidambaram as her advocate. Madam Chidambaram requested me to help her (Manoranjana) set up a channel in Guwahati and support her by extending Rs. 42 crore to her company.
“Madam Chidambaram herself prepared the agreement, wherein she is the sole arbitrator if at all any dispute arises…. She fixed her consultancy and during a period of one-and-a-half years, more than Rs. 1 (one) crore has been given to her.”
Sen further alleged that whenever she visited Calcutta with Manoranjana Sinh, her airfare and hotel bills at the Taj were paid by him. Manoranjana Sinh, he said, assured him that Nalini was the wife of P Chidambaram, the then home minister.
“Without assessing my financial strength, she (Nalini) has also pressurized me for supporting her (Manoranjana) by investing `42 crore. So far, I remember that I have already paid Rs. 25 crore to Mrs Manoranjana Sinh in the name of GNN India Pvt Ltd and NK Gupta, her father, who is also whole-time director of GNN India Pvt Ltd.
“For her travelling purposes and hotel accommodation in various places in India, not less than `3 crore have been spent,” he further alleged.
However, Nalini in a statement to the media said: “The CBI did not question me. CBI officers wanted to know whether Ms Manoranjana Sinh had consulted me professionally. I told them yes, I was consulted.”
It waits to be seen how things will unfold for this power couple now.