Aircel
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[http://www.thehindu.com/business/aircelmaxis-case-a-timeline/article6401708.ece ''The Hindu''], August 21, 2015 | [http://www.thehindu.com/business/aircelmaxis-case-a-timeline/article6401708.ece ''The Hindu''], August 21, 2015 | ||
Revision as of 08:34, 2 January 2016
This is a collection of articles archived for the excellence of their content. |
Aircel-Maxis deal: A timeline
The Hindu, August 21, 2015
April-May 2011: The Aircel-Maxis deal came under the scanner after Aircel owner C. Sivasankaran lodged a complaint with the Central Bureau of Investigation alleging that he was pressurised to sell his stakes to Maxis.
September 2011: The Arbitral Tribunal rejected Mr. Sivasankaran’s allegation regarding breach of obligations on the part of buyers in undertaking an IPO of Aircel. The tribunal directed him to pay Maxis’s legal costs of $7.9 million, of which at least $1.4 million was paid. The award was not challenged.
October 2011: The CBI filed a case alleging that Mr. Sivasankaran, who had applied for spectrum licence, was coerced into selling his company to Maxis. It is later alleged that the Maxis Group, which bought 74 per cent stakes in Aircel in March 2006, invested Rs.742 crore in Sun Direct between 2007 and 2009.
May 2014: The CBI told the Supreme Court that there was difference of opinion between the CBI Director and the prosecution regarding filing of the charge sheet. On reference, the Attorney General opined that there was enough prosecutable evidence.
July 2014: Maxis Communications Berhad on July 25 urged Finance Minister Arun Jaitley that it be treated in a fair manner, citing a contrary opinion by two retired Chief Justices of India.
August 2014: The CBI on August 29 filed charge sheet against former Telecom Minister Dayanidhi Maran and his brother Kalanidhi Maran; T. Ananda Krishnan, owner of Malaysian company Maxis; Ralph Marshall, a senior executive of the Maxis Group, and four companies, including the Sun Direct TV Pvt. Ltd.
February 5, 2015: The Marans moved the Supreme Court challenging the 2G Special Court’s decision to summon them in the Aircel-Maxis case.
February 6, 2015: The Supreme Court recalled its order refusing to entertain petitions of the former Telecom Minister Dayanidhi Maran and his brother, Kalanithi Maran, to quash summons in the Aircel-Maxis case issued by a special court trying the 2G spectrum scam.
February 9, 2015: The Supreme Court refused to intervene with a summons order issued by the 2G Special Court to former Telecom Minister Dayanidhi Maran and his brother Kalanithi Maran in connection with the Aircel-Maxis deal case.
March 16, 2015: Marans challenged the jurisdiction of the Special CBI Court over the Aircel-Maxis deal case.
April 1, 2015: The Enforcement Directorate attached assets estimated at Rs. 742.58 crore held by Dayanidhi Maran and his brother Kalanithi Maran and wife Kaveri Kalanithi.
August 3, 2015: The CBI told a special court that Malaysian authorities were not “cooperating” in the service of summons against four accused in the Aircel-Maxis deal case after which the judge issued fresh summons.
