A Delhi court on Monday reserved its order on anticipatory bail pleas of Congress leader P Chidambaram and his son Karti in Aircel-Maxis case lodged by CBI and ED to September 5. Special Judge O P Saini listed matter after hearing submissions from ncies and Chidambarams. court earlier was unhappy with repeated adjournments and gave an ultimatum that if y did t argue matter, y would issue order on September 3.

Read: SC Asks Trial Court To Consider Chidambaram's Request For Interim Bail

Aircel Maxis: Court reserves anticipatory bail order for September 5 

CBI is probing how Chidambaram granted foreign investment approval for Aircel-Maxis deal when only Cabinet Committee on Ecomic Affairs were empowered to do it given its size. ED is also probing a money laundering case in which anticipatory bail is pending.

Read: Chidambaram To Avoid Tihar Jail As SC Extends CBI Custody

cases relate to alleged irregularities in grant of Foreign Investment Promotion Board (FIPB) approval in Rs 3,500 crore Aircel-Maxis deal when P Chidambaram was Finance Minister. far and son were given interim protection from arrest by court after y had filed anticipatory bail applications in case.  ir protection from arrest has been extended from time to time. previous extension was ending on August 23. P Chidambaram and Karti were named in charge sheet filed by CBI in case on July 19 last year. 

What is Aircel-Maxis Case?

An off-shoot of 2G spectrum allocation scam, case came into light in 2011, following a complaint by Aircel founder C Srinivasan to CBI in March 2006. 

Read: INX Media Case: ED Seeks Chidambaram's Custodial Interrogation

How are Chidambarams related in  Aircel-Maxis case?

Since P Chidambaram was Union Finance Minister at that time, ED said that Foreign Investment Promotion Board (FIPB) approval was given in violation of rules and regulations. Under FDI policy in 2006, P Chidambaram was empowered to give approval t exceeding beyond Rs 600 crore. Probe ncies allege that Chidambaram did t put case under scanner of Cabinet Committee on Ecomic Affairs (CCEA) while granting approval for FDI worth $800 million, which roughly comes to Rs 3,500 crore.

For an amount greater than Rs 600 crore, it should have been approved by CCEA. It was alleged foreign investment approval was made to benefit his son, Karti Chidambaram, via companies linked to him. Karti and P Chidambaram are also undergoing investigation for ir involvement in INX-Media Case, with former Finance Minister currently in CBI custody.

Read: Indrani Mukerjea: Ready To Confront Chidambaram In INX Media Probe

(With PTI inputs)