Its not over Mr. Chidambaram!!!

Unlike the Shakespearean play, ‘All is well, that ends well’  it appears it won’t end well for Chidambaram.    The Special Court hearing the 2G plea could have given Chidambaram a new confidence when it dismissed Subramanian Swamy’s plea to add Chiddu as co - accused along with A.Raja in the 2G scam. Whispers doing rounds in the Delhi's North block is that Swamy's camp is already involved in finding out the "Chidambara Ragasiyam" - "Secrets of Chidambaram".

Special Court Judge, O.P.Saini, in his order said, “In the end, Mr. P. Chidambaram was party to only two decisions,  that is, keeping the spectrum prices at 2001 level and dilution of equity by the two companies. These two acts are not per se criminal. In the absence of any other incriminating act on his part, it cannot be said that he was prima facie party to the criminal conspiracy. There is no evidence on record that he was acting in pursuit to the criminal conspiracy, while being party to the two decisions regarding non-revision of the spectrum pricing and dilution of equity by the two companies.”

According to legal circles, there is every possibility that this judgment gets reversed in higher courts exactly like Chiddu’s fortunes. It is true that Subramanian Swamy did not have enough evidence against Chidambaram except for a few documents which he got from the North block and on court's direction. In the name of exposing Chidambaram, Subramanian Swamy was busy in blowing his own trumpet instead of putting up a water tight case against Chidambaram. 

Whispers doing rounds in New Delhi circles is that, Swamy's camp is now probing another angle of Chidu's involvement in the 2G scam.  It was during Dayanidhi Maran's tenure. According to CBI’s FIR against the Dayanidhi Maran, “On December 26, 2005, Aircel was taken over by Global Communications, a wholly-owned subsidiary of Maxis Communications, and Deccan Digital Network, a joint venture company formed between Sindya Securities and Global Communications.”

Aircel, a firm started by Sivasankaran, is a joint venture between Maxis Communications Berhad of Malaysia and Sindya Securities & Investments Private Limited, whose shareholders are the Reddy family of Chennai, with Maxis Communications holding a majority stake of 74% according to its website.

Suneeta Reddy

Apollo Hospital’s promoter Pradhap Reddy had clarified at the time of registration of CBI’s FIR that Sindya Securities and Investments Pvt Ltd are promoted by P Dwarakanath Reddy and Suneeta Reddy have investments in Aircel entity and this is a strategic investment in telecom sector, which was a growing business opportunity. Suneeta Reddy is the daughter of Pradhap Reddy. Why would a popular hospital make investments in telecom sector which they claim as ‘a growing business opportunity’  is the question lingering in the minds of many business brains? So far neither Reddy nor anyone has answered this question. 

The buzz in business circles and medical circles is that the investment in Aircel by Apollo is a ‘quid pro quo’.  Srinithi Chidambaram, who is married to Chiddu’s son Karthick Chidambaram is working as a physician in Apollo Hospitals.  Grapevine has it that, Chiddu was allotted shares of Apollo Hospitals from the promoters quota in the name of his daughter in law – Srinithi and in turn Chiddu allotted his share in the pie – Aircel to the ‘Reddys’.  

Whispers doing rounds in CBI circles is that, at the time when CBI raids were conducted at the residences of Dayanidhi and Kalanidhi Maran, a team of officials were present at Suneeta Reddy's residence in the posh locality of Nungambakkam. But neither there was any official confirmation from the CBI nor the Apollo hospitals. CBI insiders say a team of officials have gone there to ensure Srinithi Chidambaram's angle is never taken into consideration. 

Whispers doing rounds in TN Political circles is that The Mighty Marans who are aware of this dealing has made it clear that if the CBI moves an inch against them... it would hit Chidambaram.    This is the mystery behind the CBI’s reluctance in proceeding against the KD brothers.

The strong connection between Chiddu and Apollo and vice-versa could be seen from the decision of Apollo Hospital management to open a 110 bed hospital in Karaikudi, a sleepy town in Tamil Nadu, which is also the home town of P Chidambaram. Whispers doing rounds in medical circles say that the project was announced after Chiddu’s daughter-in-law was allotted with shares in Apollo Hospitals in 2009.

The Karaikudi Apollo Hospital was opened by none other than Manmohan Singh on 27 December 2011 in the presence of Chiddu. Why should the Prime Minister of a country spend his time to open a hospital in a sleepy town? CHIDDU.

Illustration : Tehelka

While the KD brothers received crores of rupees from Ananthakrishnan as a quid pro quo for arm twisting Sivasankaran – promoter of Aircel, sources say Chidambaram was allotted shares in his daughter-in-law Srinithi’s name as a quid pro quo for turning a Nelson’s eye to a gross violation.  According to the then existing norms, Foreign Direct Investment is not permitted in telecom sector beyond 74%.   However, Maxis in a filing with the Malaysian stock exchange, Bursa Malaysia, in March 2006 said it had an economic interest of 99.3% in Aircel, compared with its direct and indirect equity stake of 74%.

Whispers doing rounds in Delhi circles is that, an RSS think-tank is meticulously researching about ‘insider trading’ by Chiddu’s son Karthick Chidambaram when Chiddu was finance minister.  Research is also being conducted into the interest of Chiddu’s son Karthick Chidambaram into the astonishing growth of ‘Vasan Eye Care’, a chain of hospitals in a short span. P.Chidambaram has always been closely associated with Vasan Eye Care.   It was Chidambaram who inaugurated Vasan Eye Care’s 25^th Hospital and 100^th Hospital, which happens to be at Chiddu’s home town – Karaikudi.   The Vasan group of hospital, which entered into  Chennai in 2008, now has 15 branches in Chennai alone. 

Finance Minister Pranab Mukherjee, who has an old score to settle with Chiddu for bugging his office has gathered enough dirt on Chiddu, say sources.

As of now, the breather given by Special Judge O.P.Saini, appear to be temporary.