Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<keyword id="43940" type="PERSON" weightage="20" keywordseo="P-Chidambaram">P Chidambaram</keyword>, former Finance Minister in the UPA government was arrested by the CBI (Central Bureau of Investigation) in a money laundering case of 2007. Who was once the most influential ministers during the 10 year long rule of the UPA government is behind the bars now waiting to be probed in the INX Media case. Here are the details about the case against <keyword id="6362104" type="LOCATION" weightage="20" keywordseo="chidambaram">Chidambaram</keyword>. The grounds of Chidambaram’s recent arrest The case filed against Chidambaram that led to his arrest is related to the INX Media scam. This is a 2008 deal that threatens to put the ex-minister into a serious trouble along with his son Karti Chidambaram. Though Chidambaram has claimed that he has no connections with the companies that have received the alleged bribe money in return to issuing an undue foreign investment promotion clearance to INX Media, the High court has recently identified him as the kingpin of the said scam. The details of the case against Chidambaram The underline of the case against Chidambaram is the accusation that he has helped the founders of INX Media to prevaricate justice even after they had been found to violate the foreign investment laws of the country. In the year 2007, INX Media allegedly received foreign funding of Rs 305 crores whereas they had secured permission to raise only Rs 4.62 crores as shares. When the firm was questioned by the Financial Intelligence Unit in 2008, the founders of INX Media allegedly contracted the firm that Karti Chidambaram owned in order to sort out the issue. The CBI now claims that rather than ordering to investigate into the said case, Chidambaram misused his powers through the Foreign Investment Promotion Board that was under him to grant fresh approval for the foreign funds that were already received by INX Media. The probe agency alleges that in return to the favors that Chidambaram did to INX Media, the kickbacks were routed to him through the Shell Companies connected to Karti Chidambaram. In February 2018, Karti Chidambaram was arrested and kept in jail for 23 days for interrogation. In March 2018, <keyword id="1210108" type="PERSON" weightage="20" keywordseo="Indrani-Mukerjea">Indrani Mukerjea</keyword>, the promoter of INX Media confirmed the CBI that a deal worth $1 million took place between them and Karti Chidambaram for making the FIPB grant the approval favoring the INX Media. She also turned as an approver in the said case on July 11, 2019. What is Chidambaram’s response to the allegations? In defending his innocence, Chidambaram has claimed that neither he nor any one in his family was accused of any kind of offence and that both the ED and CBI did not file a charge sheet or FIR against anyone of them. The sources close to him also said the companies that are involved in the INX media scam are not connected to Chidambaram or his son. They also claim that there had been no money trail that is found routing the alleged kickbacks to Chidambaram. What the Delhi High Court says? When reading out the judgment, Justice Sunil Gaur said, "Facts of the case prima facie reveal that petitioner (Chidambaram) is the kingpin, that is, the key conspirator in this case,"

What is the case against Chidambaram

Former Union Finance Minister P. <keyword id="6362104" type="PERSON" weightage="20" keywordseo="Chidambaram">Chidambaram</keyword> on Saturday said the Goods and Services Tax (GST) would severely affect micro, small and medium traders and the law that has been implemented is not the way it was originally planned. Speaking to reporters at Karaikudi, Chidambaram said the <keyword id="1571" type="ORGANIZATION" weightage="20" keywordseo="Congress-party">Congress party</keyword> is not against the GST but it is opposed to the way it is being implemented. Chidambaram said micro, small and medium sized traders across the country would be impacted by the GST implementation. He said that traders wanted some more time for GST implementation but the government refused the give them the needed time. Chidambaram also said the GST will impact inflation. The <keyword id="1575" type="ORGANIZATION" weightage="20" keywordseo="Congress">Congress</keyword> party had kept away from the midnight Parliament function to roll-out the GST.

GST to impact micro, small and medium traders: P Chidambaram

Congress leader P. <keyword id="6362104" type="General" weightage="90" keywordseo="chidambaram" source="Orion">Chidambaram</keyword> on Wednesday took a swipe at the government citing a debate in UK <keyword id="6354721" type="General" weightage="40" keywordseo="parliament" source="Orion">Parliament</keyword> between Prime Minister <keyword id="221875" type="General" weightage="70" keywordseo="rishi-sunak" source="Orion">Rishi Sunak</keyword> and opposition members after his return from India following G20 Summit, and said he wished such a debate took place in India's Parliament. Chidambaram in his post on X said, "Please read the reports of the debate in the House of Commons when MPs questioned Prime Minister Rishi Sunak on his talks with Prime Minister (Narendra) Modi. Hard questions by the Opposition, prompt answers by the Prime Minister." "It is not important who prevailed in the debate. What is important is that a debate took place in Parliament within hours of the Prime Minister's return to Britain. How I wish such a debate took place in India's Parliament. Such questions and answers were normal in Parliament when Jawaharlal Nehru was prime minister," the former Union minister said. His remarks came after Sunak returned to the UK after attending the G20 Summit in India and answered the questions of opposition leaders. The Congress has been critical of the Modi government over not allowing debates in Parliament over important issues. The Congress has on previous occasions accused the government of not allowing the opposition members to speak in Parliament on several pressing issues.

Wish such debates took place in India: Chidambaram after Sunak answers in UK Parliament

Senior <keyword id="1575" type="ORGANIZATION" weightage="20" keywordseo="Congress">Congress</keyword> leader <keyword id="43940" type="PERSON" weightage="20" keywordseo="P-Chidambaram">P Chidambaram</keyword> today recalled that <keyword id="6354478" type="PERSON" weightage="20" keywordseo="Indira-Gandhi">Indira Gandhi</keyword> had admitted that declaring Emergency was a mistake and said Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> should similarly admit that demonetisation was a "flawed" decision which has badly hit the people, as per an agency report. 
 Flaying the <keyword id="14666" type="ORGANIZATION" weightage="20" keywordseo="BJP">BJP</keyword> regime and <keyword id="6354642" type="PERSON" weightage="100" keywordseo="Modi">Modi</keyword> on demonetisation, he said "demonetisation is a measure which made 45 crore people like beggars and hassled middle class people for 45 days." 
 
The former Union finance minister said nobody could deny that such hassles due to demonetisation (for getting cash) would continue for six more months. 
 Addressing a public meeting at the open grounds of party State headquarters <keyword id="2587024" type="UNKNOWN" weightage="20" keywordseo="Satyamurthy-Bhavan">Satyamurthy Bhavan</keyword> here, he said Congress cadres should methe people and address meetings in local languages of the respective states on the issue. 
 
The people should be apprised that BJP's claim that demonetisation would root out black money "is a big falsehood, eliminating corruption and counterfeit currency was a deception," he said. 
 On Modi's statements of a 'cashless society', he wondered how it was possible when a country like <keyword id="6355055" type="COUNTRY" weightage="20" keywordseo="USA">USA</keyword> had "46 per cent of its transactions in cash (after 300 years of its formation) and in <keyword id="87" type="COUNTRY" weightage="20" keywordseo="Germany">Germany</keyword> cash transactions are 80 per cent." 
 <keyword id="6362104" type="PERSON" weightage="100" keywordseo="Chidambaram">Chidambaram</keyword> said the Prime Minister should have accepted that he had taken a wrong decision. 
 
"He (Modi) is a big (magnanimous) man... had he said that I made a mistake, had Modi sought forgiveness, he would have been a big man," the senior Congress leader said. 
 He said Indira Gandhi had generously admitted that promulgation of Emergency in 1975 was a mistake as it had led to suffering of people (not in <keyword id="20154" type="ORGANIZATION" weightage="20" keywordseo="tamil-nadu">Tamil Nadu</keyword>) and promised to never do it again till such time she was Prime Minister. 
 
"That is why she continues to live in the hearts of people as a towering leader though she passed away 32 years ago," he said. 
 
"There is nothing wrong in accepting one's mistake..there is nothing wrong in saying that I have done a mistake." 
 
Chidambaram said if Modi had admitted he had taken a "wrong decision based on wrong advice" and he was not told of the quantum of currency that will be scrapped, it would have been generous. 
 
If Modi had said he was not apprised about the note printing capacity and how many months it would take to print such notes and on the duration of ATM recalibration, he would have been magnanimous, he said. 
 
Modi should have admitted that he had not taken into consideration the fact that people would be hit and daily wage earners would be affected, Chidambaram said. 
 
Chidambaram said that rather than accepting that what he did was a flawed decision, Modi was trying to stick to his ground. 
 
Quoting a Tamil proverb, which meant trying to justify one's stance, despite it being flawed, he said, "Prime Minister, however, goes on and speaks gesticulating using his arms and legs and how we can accept this?" 
 
He said Modi should have admitted that "I believed what I was told about rooting out black money...I did not pose a question as to how bringing Rs 2,000 note was a logical step when Rs 500 and Rs 1000 notes were to be scrapped."

Chidambaram equates demonetization to emergency; wants Modi to admit his mistake

(Eds: Adding more quotes) New Delhi, Feb 10 () Former Finance Minister P Chidambaram on Monday tore into Narendra Modi government's handling of the economy, saying it was "perilously close to a collapse" and was being attended to by "incompetent doctors". The economy, he said, was facing twin problems of rising unemployment and falling consumption but the government continues to live in denial. Initiating the debate on the Union Budget for 2020-21 in the Rajya Sabha, Chidambaram said more money needs to be put in hands of people and not give "extraordinary powers" to junior taxmen to unleash "tax terrorism." He offered Finance Minister Nirmala Sitharaman the same advice that Modi as BJP's prime ministerial candidate had offered him in November 2013. On "November 2, 2013, a very distinguished political leader said and I quote: "Economy is in trouble. The youth wants jobs. Devote more time to the economy, not on petty politics. Please focus on the job at hand. Very wise advice. I can't do anything better than reading this piece of advice to the Finance Minister", he noted. According to him, the economy was facing structural problems but the government continues to believe they were cyclical in nature. Modi government's chief economic adviser for four years, Arvind Subramanian, has stated that the economy is in the ICU (Intensive Care Unit). But "I would say the patient has been kept out of the ICU and incompetent doctors are looking at the patient," Chidambaram said. "It is dangerous to have a patient out of the ICU and being looked upon by incompetent doctors. What is the point standing around and chanting slogan 'Sab ka Saath, Sab ka Vishwas'," he said. According to Chidambaram, the BJP government lives in denial, refuses to acknowledge its mistakes and has an "outdated" predisposition towards protectionism and a strong rupee, and is against bilateral as well as multilateral trade agreements. "We have an economy which is perilously close to collapse. It has to be attended to by very competent doctors. In the last few years, we have found the doctors are not so competent," he said. "We are living in denial and we are ignoring two big elephants in the room -- one is rising unemployment and the other is fall in consumption. Unemployment rises, consumption falls, the Indian economy becomes poorer and not richer," he noted. Chidambaram called demonetisation of old 500 and 1,000 rupee notes as well as the hurried implementation of a "flawed" Goods and Services Tax (GST) with wrong design, rates, structure and procedure and an unprepared system as "monumental blunders" that ruined the economy. "Because of its refusal to admit mistakes, because it lives in denial, because of its predisposition, the government either does not know or if it knows is not willing to make it clear that this is the state of the economy," he said. With an unprecedented six consecutive quarters of falling growth, the economy is facing demand constraints and is investment-starved, he said. "When we point out the mistake of the government, the government must have an open mind to debate and if it is a mistake, admit it." "It is living in denial. It simply does not accept that the state of the economy is extremely bad," Chidambaram said as he reeled out the government's own statistics to drive home the point. While GDP has fallen to an 11-year low of 4.5 per cent in 2019 July-September quarter, agriculture is growing by just 2 per cent, while consumer price inflation has risen from 1.9 per cent in January 2019 to 7.4 per cent in a matter of 11 months. Also, food inflation is at 12.2 per cent. Bank credit is growing 8 per cent with non-food credit rising by 7-8 per cent and credit to the industry by just 2.7 per cent. Credit to agriculture has declined from 18.3 per cent to 5.3 per cent and that for MSMEs from 6.7 per cent to 1.6 per cent, he said. "Who are your doctors?, I want to know," he said, adding the government considers Congress as an untouchable and does not think of any good about the rest of the Opposition and so doesn't consult them. Chidambaram charged that instead of putting money in the hands of people, the Modi government "puts money in hands of 200 corporates" by way of cut in corporate tax. Stating that every competent doctor that the Modi government could ever find has left the country, he listed out former RBI governors Raghuram Rajan and Urjit Patel, former CEA Arvind Subramanian and former NITI Aayog Vice Chairman Arvind Panagariya as persons who quit during the BJP rule. "Fear and uncertainty prevail in the country," he added. Chidambaram also attacked Sitharaman for reading out a 160-minute speech without talking about the state of the economy and its management. "Question on my mind is what was the Finance Minister trying to say? If you take 160 minutes to read the speech and still few pages are left to read, what is the narrative, what is the story you are trying to say. "You are living in echo chambers. You want to hear your own voice," he said. Chidambaram said overall industrial index showed just 0.6 per cent growth with every major industry being at either near-zero or in the negative zone. Thermal power plants are operating at just 55 per cent of the capacity as factories have either closed or are on the verge of closure, he added. "That gives you a good picture of the state of the economy. You don't require a MRI," he said. "You are in management for six years. How long can you blame previous managers," he added. Further, Chidambaram said the government was burying unfavourable reports such as the labour survey that put unemployment at 45-year high of 6.1 per cent at the end of 2017-18. As also the one that talked of consumer expenditure falling to 3.7 per cent between 2011-12 and 2017-18, he noted. ANZ RAM MKJ

Economy perilously close to collapse, being attended by incompetent doctors: Chidambaram

New Delhi, Jan 20 () Karti Chidambaram, son of former Union minister P Chidambaram, appeared before the Enforcement Directorate on Monday for questioning in the INX Media money-laundering case, officials said.
The investigating officer of the case recorded the statement of Karti, a Congress MP from Tamil Nadu's Sivaganga, under the Prevention of Money Laundering Act (PMLA).
He was last questioned in this case in October last year. 
The MP has been questioned multiple times by the agency in the past in connection with this case, in which his father and Congress leader P Chidambaram has also been quizzed.
The senior Chidamabaram had been arrested in this case by the CBI and the Enforcement Directorate (ED) last year and had to spend over 100 days in custody before he was released in early December. 
 Karti too was arrested in this case by the CBI.
It is understood that Karti is being questioned on some fresh leads obtained by the agency, besides being confronted him with the statements of other witnesses and accused in the case.
In 2018, the ED had attached Karti's assets worth Rs 54 crore that were located in India, the UK and Spain in connection with the INX Media case.
Agency sources had earlier alleged that P Chidambaram and Karti were the "beneficial owners" of several shell firms that were incorporated in India and abroad in connection with a Foreign Investment Promotion Board (FIPB) approval given to the INX Media group during the former's tenure as the Union finance minister.
The central agency's probe found that the alleged kickbacks so received by the father-son duo were used to meet their "personal expenses". 
 They put the money in over two dozen foreign accounts and purchased multiple immovable assets in countries such as Malaysia, the United Kingdom and Spain among others, according to the ED. NES NES TIR
TIR

INX Media PMLA case: ED questions Karti Chidambaram again

New Delhi, Mar 6 () Finance Minister Nirmala Sitharaman on Friday hit back at senior Congress leader P Chidambaram for his jibe over crisis-hit Yes Bank's loan book swelling five times under BJP rule, saying "self-appointed competent doctors" created more problems in handling crisis at three banks during the UPA regime. She blamed Chidambaram for the crisis at Global Trust Bank in July 2004 and the problems at IDBI which had to merge with on-the-verge of collapsing United Western Bank in 2006. The Congress-led UPA had come to power in May 2004 and Chidambaram was the finance minister. Addressing a press conference after the RBI superseded the board of Yes Bank and placed withdrawal restrictions, she said the crisis-hit lender's exposure to stressed corporates dates before 2014. "The exposure of Yes Bank to some of the very stressed corporates has been before 2014. These are public domain names and I am not violating any customer privacy - Anil Ambani (Group), Essel Group, DHFL, IL&amp;FS (and) Vodafone are some of the very stressed corporate to whom Yes Bank has been exposed," she said. Sitharaman said she is revealing these names as the opposition parties were "very keen to point fingers". "I am not here to continue carrying the stories of legacy. Yes, the Indian banking system has had severe challenges thanks to the way in which the government which existed between 2004-14 had handled the matter. I have reasons to put the blame on them," she said. Sitharaman went on to question Chidambaram's handling of the crisis at two banks under the UPA-1 rule. "So-called self-appointed competent doctors" were in charge when United Western Bank was "almost on the verge of collapse in 2006 and was forcefully merged with IDBI," she said. "Today if I have problems restoring good health of IDBI, I am giving you good examples of how self-appointed competent doctors had handled UWB merger with IDBI." IDBI, she said, went down because of UWB. "That was the treatment offered by those who speak today." "We have ensured that the interest of customers is kept safe, we are doing that. Their solution for UWB has resulted in IDBI also losing" its base, she said adding Global Trust Bank was merged with OBC and Ganesh Bank of Kurudher was merged with a private bank. "Easy merge it and wash your hands off," she said. "In all three you merged and washed your hands off." The former finance minister Chidambaram had in a series of tweets questioning the crisis at Yes Bank and asked why should state-owned State Bank of India (SBI) invest in the beleaguered lender. When overall bank credit between 2014 and 2019 grew by about 10 per cent, Yes Bank's loan book grew by about 35 per cent, he said. "Who knows, FM may blame the UPA for the miraculous jump between 2014 and 2019 !!!" FM is a short form of finance minister. "I understand FM has made a statement blaming the UPA. That's normal for a government living in ignorance. Does the FM know the numbers that I have tweeted? If she does, will she please explain how the loan book jumped in five years from Rs 55,633 crore to Rs 2,41,499 crore?" In another tweet, Chidambaram said, "SBI should take over the loan book of YES Bank for one rupee, recover the loans, and simultaneously assure the depositors that their money will be safe and will be returned." Sitharaman said she has repeatedly said that she will not allow any institution to fall off a cliff. "I do remember I said in the context of non-banking finance companies and we have been a daily basis monitoring the banking and shadow banking institutions," she said. Questioning Chidambaram's handling of banks, she asked action against how many people were taken by the UPA to task for the problems at banks. "And here you see them quickly jump to say 'oh no no you don't know what you are doing? You don't know how you are handling the economic affairs'," she said. "We are ensuring the customers' interest is intact, we are ensuring that depositors are assured and money is safe. You forcefully merge it off, let go off offenders and now ask questions uncomfortable for yourself." Stating that she has no problem answering questions on the handling of the economy, the minister said her government's approach so ensures institutions don't collapse and that they are kept in good health and interest of customers and depositors are kept safe. "We assure all the depositors that their money is safe. We shall ensure that speedily this will be resolved and restructuring will happen in the interest of depositors and economy," she added. JD ANZ MKJ

Sitharaman hits back at Chidambaram for jibe over Yes Bank crisis

New Delhi, Feb 1 () Slamming the Budget, senior Congress leader P Chidambaram on Saturday said the Modi government is in complete denial that the economy faces a "grave macro economic challenge" and it has given up on reviving the economy, accelerating growth or creating jobs.
There is nothing in the Budget that leads one to believe that growth will revive in 2020-21 and the claim of 6 to 6.5 per cent growth next year is "astonishing and even irresponsible", the former finance minister said at a press conference.
He said the government "does not believe" in reforms and certainly not in structural reforms as Finance Minister Nirmala Sitharaman has outrightly rejected every reform idea in the Economic Survey.
"Did the FM read the Economic Survey? Was the chief economic adviser privy to the content of the Budget speech? I think the answer to both questions is in the negative," Chidambaram said.
There were multiple themes, segments and programmes in the Budget speech, leaving the listener dazed and confused, he claimed.
"It was a laundry list of old (that is current) programmes. I am pretty certain that even the most loyal BJP MP or supporter cannot latch on to any idea or statement in the Budget speech and take it to the people," Chidambaram said.
If the ongoing programmes have failed the people, how can throwing more money into the ongoing programmes change anything, he asked.
"The government has given up on reviving the economy or accelerating the growth rate or promoting private investment or increasing efficiency or creating jobs or winning a greater share of world trade," he said.
The Indian economy is demand-constrained and investment-starved, and the finance minister has not acknowledged these two challenges, he said.
"You did not ask for such a budget and you did not deserve such a budget for voting the BJP to power. But you have to live with it until the government is forced to revisit it, as it did in 2019," Chidambaram said.
Finance Minister Sitharaman announced cuts in personal income tax, extended tax benefits for affordable housing and gave relief to companies on payment of dividend in the Union Budget as the government looked to boost consumption to bring the economy out of the worst slowdown in 11 years. SKC/ASK ASK ABH
ABH

Govt has given up on reviving economy, accelerating growth, creating jobs: Chidambaram

NEW DELHI: <keyword id="6355261" type="POSITION" weightage="40" keywordseo="Finance-minister">Finance minister</keyword> <keyword id="43940" type="PERSON" weightage="40" keywordseo="P-Chidambaram">P Chidambaram</keyword> has opted out of the <keyword id="6355187" type="ORGANIZATION" weightage="40" keywordseo="Lok-Sabha">Lok Sabha</keyword> contest, with <keyword id="1575" type="ORGANIZATION" weightage="80" keywordseo="Congress">Congress</keyword> announcing his son Karthi as the candidate from Sivaganga constituency in Tamil Nadu. Kirit Patel will take on BJP patriarch LK Advani in <keyword id="6356847" type="CITY" weightage="40" keywordseo="gandhinagar">Gandhinagar</keyword> in Gujarat. 
 The passing of baton in Sivaganga caps the intense speculation on <keyword id="6362104" type="PERSON" weightage="60" keywordseo="Chidambaram">Chidambaram</keyword>’s candidature in the wake of Congress’s bleak prospects in the state owing to its failure to find an ally. Congress fought the last two elections with DMK and reaped a rich tally, disproportionate to its weak organizational muscle in the state. 
 
The leg-up for the GenNext extends to another of the state’s political family. Mohan Kumaramangalam, son of former Union minister Rangarajan Kumaramangalam, is the rookie to contest from Salem. 
 In what may have the making of an interesting contest, Laxman Singh has been named from Vidisha to take on leader of opposition in Lok Sabha <keyword id="6355111" type="PERSON" weightage="40" keywordseo="Sushma-Swaraj">Sushma Swaraj</keyword> in Madhya Pradesh. Singh is a former MP and the brother of AICC general secretary <keyword id="43786" type="PERSON" weightage="40" keywordseo="Digvijay-Singh">Digvijay Singh</keyword>. 
 
Congress announced sitting MPs Ramesh Kumar and Mahabal Mishra from South Delhi and West Delhi, a decision which means that all seven party MPs from the capital would be taking the field in the Lok Sabha polls. 
 
The names of Kumar and Mishra were held back in the earlier list which gave the go ahead to five other MPs, raising the possibility of their being replaced. However, the party leadership has settled for the status quo, finding that any attempt to change the candidate would skew the caste balance it wants in its representation in the apital. 
 The reprieve for the two comes after Congress mulled possible options to sitting MPs. The <keyword id="447980" type="ORGANIZATION" weightage="40" keywordseo="Central-Election-Committee">Central Election Committee</keyword> of the party had taken exception to the routine manner in which the MPs were recommended for renomination and had asked the Delhi managers to submit a panel of possible candidates. 
 
Union health minister and senior Congress leader Ghulam Nabi Azad would contest from Udhampur in Jammu and Kashmir. He replaces MP Lal Singh Chaudhary. 
 
Congress has also replaced Paranjayadityasinh Parmar from Panchmahals in Gujarat with Ramsingh Parmar. Paranjayaditya is the son-in-law of Congress general secretary Digvijay Singh and his nomination in the previous list of candidates had sparked unrest, leading to clarification from the state leadership that it was an oversight. 
 <keyword id="6364961" type="POSITION" weightage="40" keywordseo="Rajya-Sabha-MP">Rajya Sabha MP</keyword> and former union minister Mani Shankar Aiyer will contest from Mayiladuthurai that he represented in Lok Sabha before losing in 2009. 
 
Expelled JD(U) MP Purnmasi Ram will be the Congress candidate from Gopalganj reserved seat in Bihar. Also, Congress’s Tsering Samphel will contest from Ladakh seat in J&amp;K.

Running Scared? Chidambaram Opts Out Of Lok Sabha Battle, Congress Fields His Son

New Delhi, Feb 14 () The Enforcement Directorate and the CBI filed a status report of their investigation into Aircel-Maxis cases before a Delhi court on Friday. The ED told District Judge Sujata Kohli that active investigation into the matter was going on, while the Central Bureau of Investigation informed her that letters rogatory had been sent to Malaysia and the status was awaited. Judicial requests, also known as letters rogatory, are issued by courts on the request of an investigation agency when it wants information from another country. The probe agencies are investigating how Karti Chidambaram, son of Congress leader P Chidambaram, received clearance from the Foreign Investment Promotion Board (FIPB) for the Aircel-Maxis deal in 2006 when his father was the Union finance minister. The CBI and the ED had alleged that P Chidambaram, as finance minister during the United Progressive Alliance regime, granted approval to the deal beyond his capacity benefitting certain persons, and received kickbacks. URD LLP PKSHMB

Aircel-Maxis cases: ED, CBI file status report of investigation

New Delhi, Feb 11 () Finance Minister Nirmala Sitharaman on Tuesday hit back at former minister P Chidambaram for his 'incompetent doctors' attending to economy remark, saying there was nothing to learn from the people who gave the mountain of NPAs along with twin balance sheet crisis.Replying to the debate on her Budget for 2020-21 in Rajya Sabha, she said FDI "ran out of the country in 2012-13" under "competent doctors" overseeing the economy.She said defence of India was paralysed and did not have equipment under the UPA.There was more sarcasm than content in Chidambaram's criticism of the Budget, she said. "We are certainly predisposed about not repeating mistakes of UPA."She went on to list the twin balance sheet crisis faced by the banks and the mounting NPA and fleeing defaulters.Also, free trade agreements (FTAs) entered into by the UPA are hurting the country, she said.The finance minister said green shoots of recovery were visible with a rebound in industrial activity and GST collection crossing Rs 1 lakh crore-mark in six months of the current fiscal.Food inflation has not been allowed to cross acceptable thresholds under the Modi government, she said.The minister also said that fiscal discipline was maintained all through under the Narendra Modi government. RSN NKD ANZBAL

Sitharaman hits back at Chidambaram, says nothing to learn from those who gave NPA crisis

<div class="image-container float_right" style="width:480px"><div class="image">Noah Seelam/AFPDemocratic Youth Federation of <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword> activists hold placards as they shout slogans during their protest over the <keyword id="6355302" type="ORGANIZATION" weightage="60" keywordseo="Rupee">rupee</keyword>'s fall in Hyderabad on August 23, 2013. India's finance minister P. Chidambaram met with top bankers Saturday to discuss ways to boost the weak rupee and bring in more foreign capital to bridge a trade gap that has put pressure on the currency.</div></div>India's finance minister P. Chidambaram met with top bankers Saturday to discuss ways to boost the weak rupee and bring in more foreign capital to bridge a trade gap that has put pressure on the currency.
Chidambaram was accompanied by top officials at the meeting in India's financial hub of Mumbai with representatives of leading private and public sector banks.
As the US economy picks up, the Federal Reserve is expected to start winding down its bond-buying stimulus scheme which has helped fuel an investment splurge in Asia's emerging markets.
"The meeting was mainly to seek ideas and suggestions on what can be done about capital inflows. It was a very good and positive meeting," ICICI Bank's chief executive Chanda Kochhar told reporters.
India's large current account deficit -- the broadest measure of trade -- must be funded with foreign capital, and the country is seen as one of the most vulnerable among emerging market nations whose currencies are under pressure globally.
India's rupee recovered from historic lows against the dollar Friday, marking its biggest single-day gain in nearly a year, but analysts warned the currency's overall trend was still bearish.
The rupee, one of Asia's worst performing currencies, bounced back 2.09 percent -- its biggest one-day gain since September 2012 -- to end trade at 63.20 Friday, up from its record closing low of 64.55 the previous day.
The Indian unit, which had hit a new lifetime intraday low of 65.56 Thursday, was boosted Friday by comments by Chidambaram and the Reserve Bank of India.
Chidambaram said the currency panic was "unwarranted" and the rupee had "overshot" its "appropriate level".
He added there was no plan to impose more capital controls on top of ones announced this month, and that reviving growth, which hit a decade low of five percent last year, would be the government's focus.
The central bank governor Duvvuri Subbarao, meanwhile, dismissed investor fears India is hurtling towards a balance of payments crisis similar to one in 1991.
Ten-year government bonds also posted their biggest weekly gain in four-and-a-half-years, of 62 paise ($0.01) to 8.26 percent, while shares rebounded by 1.13 percent to 18,519.44 points.
But analysts said the relief might be only temporary and the rupee could soften further, with Deutsche Bank suggesting it could fall to 70 to the dollar.
"There is a slight change in sentiment after the finance minister's statements but the overall trend is still bearish," said Param Sarma, chief executive at consultancy NSP Forex.
<div class="nc_footer">
Copyright (2013) AFP. All rights reserved.
</div>

You Searched For "chidambaram" and got 12 results

What is the case against Chidambaram

BI India Bureau

GST to impact micro, small and medium traders: P Chidambaram

BI India Bureau

Wish such debates took place in India: Chidambaram after Sunak answers in UK Parliament

IANS

Chidambaram equates demonetization to emergency; wants Modi to admit his mistake

BI India Bureau

Economy perilously close to collapse, being attended by incompetent doctors: Chidambaram

PTI

INX Media PMLA case: ED questions Karti Chidambaram again

PTI

Sitharaman hits back at Chidambaram for jibe over Yes Bank crisis

PTI

Govt has given up on reviving economy, accelerating growth, creating jobs: Chidambaram

PTI

Running Scared? Chidambaram Opts Out Of Lok Sabha Battle, Congress Fields His Son

Times Of India

Aircel-Maxis cases: ED, CBI file status report of investigation

PTI

Sitharaman hits back at Chidambaram, says nothing to learn from those who gave NPA crisis

PTI

India Is Scrambling To Figure Out What To Do About Its Tumbling Rupee

Agence France Presse

Popular Keywords

Buying Guides