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Tamil Nadu
“Chidambaram’s claim a lie”
Special Correspondent
CHENNAI: AIADMK general secretary Jayalalithaa on Thursday demanded the removal of Union Finance Minister P. Chidambaram from the Cabinet, saying his “claim that investments from abroad are being monitored is a lie.”
In a statement here, Ms. Jayalalithaa argued that though Mr. Chidambaram insisted that foreign institutional investors (FIIs) were required to report at the end of every month in the prescribed format all the information relating to Participatory-notes (P-notes), the Rs.1-crore fine slapped on Goldman Sachs Investment (Mauritius) for its failure to report the issuance of P-notes to the Magnus Capital Corporation Ltd proved her allegation. Quoting from the order of the Securities Appellate Tribunal (SAT), setting aside Securities and Exchanges Board of India’s (SEBI) order against Goldman Sachs Mauritius, Ms. Jayalalithaa said the case was a loss of face for SEBI.
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