Aircel-Maxis case: ED confiscated assets worth Rs. 740 crores from Maran brothers

By April 1st, 2015 AT 10:17 PM

aircel-maranEnforcement Directorate (ED) seized the bank accounts and properties worth Rs. 740 crores in the name of former telecom Union Minister Dayanidhi Maran and his brother Kalanidhi Maran today in Aircel-Maxis case. The action was taken on the grounds that Maran brothers allegedly favoured the Malaysian firm Maxis Group to take over the telecom Aircel.

In the charge sheet filed during August 2014, CBI alleges Dayanidhi Maran of forcing C. Sivasankaran, a Chennai-based businessman to sell his stake in Aircel. Mr. Maran, then accepted the gratification worth Rs. 750 crores from Maxis in the form of investments through Astro Network, a company owned by Maran family, and sold 74% equity of Aircel to T Ananda Krishnan, a Malaysian businessman. Mr. Krishnan paid around Rs. 3,390 crores for the stake. Apart from the named three, four others are also involved in this deal.

Although Mr. Maran and Maxis Group have denied the charges, CBI has filed the case under IPC Section 120-B (criminal conspiracy) and other relevant provisions of Prevention of Corruption Act. The action of seizure came after ED questioned Dayanidhi Maran at its Delhi office in last four months. ED is probing the case based on CBI’s FIR filed in the case.

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