1. Home
  2. CBI probing Chidambaram role in Aircel-Maxis deal

CBI probing Chidambaram role in Aircel-Maxis deal

September 19, 2014

New Delhi, Sep 19: The CBI is probing the role of then finance minister P. Chidambaram in allowing foreign investment by a Mauritius-based company, according to its charge sheet in the Aircel-Maxis deal.Chidambaram

The Central Bureau of Investigation's (CBI) submission came in its recently-filed charge sheet against then communications minister Dayanidhi Maran, his brother Kalanithi Maran, and Malaysian business tycoon T.

Ananda Krishnan and others. Dayanidhi Maran is chargd with using his influence to help Krishnan acquire Aircel by allegedly coercing its owner Sivasankaran to part with his stake.

The investigation has revealed that Dayanidhi Maran did not raise objection to the proposal of foreign investment by the Global Communication Services Holding Ltd. in Aircel Ltd. in 2006.

It added that Global Communication Services had sought the Foreign Investment Promotion Board's approval (FIPB) for $800 million investment, for which the Cabinet Committee on Economic Affarirs (CCEA) was competent to grant approval.

"However, the approval was granted by the then finance minister (Chidambaram)," the CBI's charge sheet said.

"Further investigation is being carried out into the circumstances of the said FIPB approval granted by then finance minister. The related issues are being investigated."

It added that Sindhya Securities and Investments Pvt. Ltd., the Indian partner of Mauritius-based Maxis Communication Bhd, acquired approximately 26 percent equity of Aircel Ltd. through Deccan Digital Networks Pvt. Ltd. for a consideration of approximately $7.43 million which gives it just 0.01 percent economic interest in Aircel Ltd.

Deccan Digital is a joint venture between Sindhya Securities and Investments and Global Communication Services Holding, the Mauritius Subsidiary of Maxis Communication Bhd. Malaysia. The CBI added that it appears that Maxis has given a lot of concessions to the promoters of Sindhya Securities and Investments in terms of investments.

"Further investigation is being carried out if Sindhya Securities and Investments is holding 26 percent equity in Aircel Ltd. on behalf of the accused," the CBI said.

It was alleged by Sivasankaran that Dayanidhi Maran favoured Maxis Group in the takeover of his company and in return, the company made investments through Astro Network in a company stated to be owned by the Maran family.

Four companies - Sun Direct TV Pvt. Ltd., Britain-based Astro All Asia Networks Plc, Maxis Communications Berhad in Malaysia, and South Asia Entertainment Holdings Ltd. in Mauritius - have been also named in the charge sheet filed Aug 29.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
August 3,2020

The Drugs Controller General of India (DCGI) has given nod to the Serum Institute of India (SII) for conducting phase 2 and 3 human clinical trials of the Oxford University developed Covid-19 vaccine candidate in the country.

Government officials said that the approval for conducting phase 2 and 3 clinical trials by the SII was granted by DCGI Dr V G Somani late Sunday night after a thorough evaluation based on the recommendations of the Subject Expert Committee (SEC) on Covid-19.

"The firm has to submit safety data, evaluated by the Data Safety Monitoring Board (DSMB), to the CDSCO before proceeding to phase 3 clinical trials," a senior official said.

"As per the study design, each subject will be administered two doses four weeks apart (first dose on day one and second dose on day 29) following which the safety and immunogenicity will be assessed at predefined intervals," the official said.

As a rapid regulatory response, the expert panel at the Central Drugs Standard Control Organisation (CDSCO) on Friday, after a detailed deliberation and considering the data generated on the vaccine candidate in phase 1 and 2 of the Oxford University trial, had recommended granting permission for phase 2 and 3 clinical trials of the potential vaccine, 'Covishield', on healthy adults in India,  the officials said.

Currently, phase 2 and 3 clinical trials of the Oxford vaccine candidate is going on in the United Kingdom, phase 3 clinical trial in Brazil and phase 1 and 2 clinical trials in South Africa.

The officials said that the SII had submitted a revised proposal on Wednesday after the SEC on July 28, following deliberation over its application, had asked it to revise its protocol for the phase 2 and 3 clinical trials besides seeking some additional information.

The panel had also recommended that the clinical trial sites which have been proposed for the study be distributed across India.

According to the revised proposal by the SII, 1,600 people aged above 18 years will participate in the trials across 17 selected sites, including AIIMS-Delhi, B J Medical College in Pune, Rajendra Memorial Research Institute of Medical Sciences (RMRIMS) in Patna, Post Graduate Institute of Medical Education and Research in Chandigarh, AIIMS-Jodhpur, Nehru Hospital in Gorakhpur, Andhra Medical College in Visakhapatnam and JSS Academy of Higher Education and Research in Mysore.

"According to the application, it would conduct an observer-blind, randomised controlled study to determine the safety and immunogenicity of 'Covishield' on healthy Indian adults," the official said.

The SII, which has partnered with AstraZeneca, for manufacturing the Oxford vaccine candidate for Covid-19 had submitted its first application to the DCGI on July 25 seeking permission for conducting the phase 2 and 3 trials of the potential vaccine. 

Initial results of the first two-phases of trials of the vaccine conducted in five trial sites in the UK showed that it has an acceptable safety profile and homologous boosting increased antibody response, sources had said.

To introduce the vaccine, SII, the world's largest vaccine maker by number of doses produced and sold, has signed an agreement to manufacture the potential vaccine developed by the Jenner Institute (Oxford University) in collaboration with British-Swedish pharma company AstraZeneca. 

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 20,2020

Kolkata, May 20: Cyclone 'Amphan' lay centred about 240 km south of Digha in West Bengal on Wednesday morning as an extremely severe cyclonic storm, the Met department said here.

The intensity near the centre of the storm was 170 to 180 kmph gusting to 200 kmph, the Met said.

'Amphan' is very likely to move north-northeastwards and cross West Bengal-Bangladesh coast between Digha and Hatiya, close to the Sunderbans during the afternoon to evening of Wednesday with a wind speed of 155 to 165 kmph gusting to 185 kmph as a 'very severe cyclonic storm', the Met department said.

West Bengal has evacuated more than three lakh people to safer places as the cyclonic storm 'Amphan' roared towards the coastal areas of the state, officials said.

The Met department, which has issued an "orange message" for West Bengal, warned of extensive damage in Kolkata, Hooghly, Howrah, South and North 24 Parganas and East Midnapore districts.

The Met department has advised that all establishments and markets remain closed in Kolkata and adjoining areas and movement of people be restricted on May 20.

There is likely to be disruption of rail and road link at several places, uprooting of communication and power poles, extensive damage to all types of 'kutcha' houses and some damage to "old badly managed pucca" structures and potential threat from flying objects, the weatherman warned.

There is also likelihood of extensive damage to standing crops, plantations and orchards and blowing down of palm and coconut trees, the Met said.

The weatherman has advised diversion or suspension of rail and road traffic in the districts which are likely to be affected.

The Eastern Railway (ER) has cancelled the departure of Howrah-New Delhi AC Special Express for Wednesday.

The departure of 02301 Howrah-New Delhi AC Special Express on Wednesday and 02302 New Delhi-Howrah AC Special Express on May 21 would remain cancelled, the ER said.

Wind speed along and off the coastal areas of West Bengal will reach 75 to 85 kmph with gusts up to 95 kmph from Wednesday morning along and off districts of North and South 24 Parganas, East and West Midnapore, Kolkata, Howrah and Hooghly, Regional Met director G K Das said.

"It will gradually increase thereafter becoming 110 to 120 kmph gusting to 130 kmph over West Midnapore, Howrah, Hooghly, Kolkata and wind speed of 155 to 165 kmph gusting to 185 kmph over the districts of North and South 24 Parganas and East Midnapore of West Bengal from the afternoon to night of May 20," he said.

Under its impact rainfall will occur in most places over the districts of Gangetic West Bengal on Wednesday, with heavy to very heavy downpour with extremely heavy rain at a few places in Kolkata, Howrah, East Midnapore, North and South 24 Parganas and Hooghly districts, he said.

"Storm surge of 4 to 5 metres above astronomical tide is likely to inundate low lying areas of South and North 24 Parganas and about 3 to 4 metres over low lying areas of East Midnapore district of West Bengal during the time of landfall," he said.

The Indian Navy has dispatched a diving team for providing assistance to the West Bengal government in relief operations, a Defence official said.

The diving team from Vishakhapatnam has brought specialised equipment along with them which can be used for rescue in case of flooding and have been positioned at the Naval Service Selection Board at Diamond Harbour in South 24 Parganas district, the official said.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
June 15,2020

Nuapada, Jun 15: In a shocking incident, a 70-year-old elderly woman had to drag her 100-year-old bedridden mother on a cot to the nearby bank to withdraw pension money of Rs 1,500.

The incident came to light after a video of the woman dragging her bedridden mother on a cot to a bank in Odisha's Nuapada district went viral on social media.

The woman from Bargaon village dragged her mother on the cot after the bank official allegedly asked for physical verification. The incident took place on June 9.

"I went to the bank several times in last three months and requested the bank official to release the pension amount. However, the official informed that they would release the pension if I bring my mother to the branch," said Punjimati Dei.

Bank manager Ajit Pradhan allegedly asked Dei to bring her bedridden mother Labhe Baghel to the bank.

Her mother is an account holder under Jan Dhan Yojana of the Central government.

The Centre had announced Rs 500 monthly assistance for women Jan Dhan bank account holders from April to June in view of the COVID-19 situation.

A district administration official informed that the woman reached the bank with her mother before the manager could visit her home for the verification.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.