Business tycoon T Ananda Krishnan could face Indian investigations over his takeover of Chennai-based cellular company Aircel in 2006. The Indian Central Bureau of Investigation (CBI) is looking into alleged discrepancies in the ownership change in Aircel by Ananda Krishnan’s Maxis Communications.
• The inquiry, as directed by the Indian courts, is to examine decisions taken by the Indian Telecom Ministry, including the decision to allow the takeover of Aircel by the Malaysian telco giant. The CBI is likely to name former Telecoms Minister Dayanidhi Maran and Maxis over the ownership change. Maran is now the Indian textile minister.
• CBI was also investigating Astro All Asia Networks’ investment in Sun Direct TV to see if it was linked with the Aircel buyover. Sun Direct is a part of the Sun Group owned by Kalanidhi Maran, southern India’s largest vernacular language broadcaster. He is also minister Maran’s brother. (Free Malaysia Today, Economic Times)
This does not affect Maxis Bhd, the Malaysian-listed entity as it does not own Aircel.
• The inquiry, as directed by the Indian courts, is to examine decisions taken by the Indian Telecom Ministry, including the decision to allow the takeover of Aircel by the Malaysian telco giant. The CBI is likely to name former Telecoms Minister Dayanidhi Maran and Maxis over the ownership change. Maran is now the Indian textile minister.
• CBI was also investigating Astro All Asia Networks’ investment in Sun Direct TV to see if it was linked with the Aircel buyover. Sun Direct is a part of the Sun Group owned by Kalanidhi Maran, southern India’s largest vernacular language broadcaster. He is also minister Maran’s brother. (Free Malaysia Today, Economic Times)
This does not affect Maxis Bhd, the Malaysian-listed entity as it does not own Aircel.
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