The Malaysian billionaire has been shifting his focus to domestic investments after Aircel Ltd, an Indian wireless operator he controls, filed for bankruptcy protection this year.
It was reported that Maxis founder T Ananda Krishnan was among 18 named in India’s Central Bureau of Investigation's charge sheet for the Aircel-Maxis case.
The charge sheet also names former Indian finance minister P Chidambaram who presided over a meeting to approve the Aircel-Maxis deal.
The Hindu BusinessLine says this is a 'goodwill gesture' to cover unpaid salaries of Aircel staff for about a month and a half.
Tycoon Ananda Krishnan's holding company stands to lose all the money it poured into Aircel over the past 12 years.
India’s telecom regulator has asked Aircel to furnish details of the unspent balance amounts of pre-paid subscribers and also allowed subscribers to port-out of the network.
Banks want the Malaysian company to invest an additional US$1 billion by March to keep its India unit Aircel buoyant.
Both parties agree to call off deal following 'legal uncertainties' and 'interventions by vested interests' that caused delays in regulatory approvals.
Apex court threatens to auction off licence worth RM13 million if Ananda Krishnan and Ralph Marshall fail to appear before it.
Court gets petition to prevent merger moves between Aircel and Reliance Communications in order to force Ananda Krishnan to attend court.
In pleading against the possible shutting down of its operations, Aircel says it should not be punished if Maxis and Ananda Krishnan do not attend court over the Aircel-Maxis deal.
Menurut laporan, pihak penyiasat menggesa mahkamah mengeluarkan 2 waran tangkap selepas saman untuk hadir ke mahkamah tidak dihirau.
Maxis has invested in excess of USD5.2 billion in Aircel, and the merger will become the largest consolidation in India’s telecom sector.
Khalid Abu Bakar says Malaysia has no agreement with India to detain local tycoon and Astro official, over alleged corruption in India.
The Central Bureau of Investigations also applies to special court for arrest warrants against Maxis Communications, Astro, and Astro official Ralph Marshall.