[1] The Board is empowered to co-opt Secretaries to the Government of India and other top officials of financial institutions, banks and professional experts of industry and commerce, as required.
Former Minister of Law and Justice & 2G spectrum case petitioner Dr Subramanian Swamy alleged that in 2006, a company controlled by then Minister of Finance P Chidambaram's son Karti got five per cent stake in Sivasankaran's Aircel to get part of ₹40 billion that the Maxis Communications paid for 74 per cent stake in Aircel.
He alleged that Mr Chidambaram withheld the FIPB clearance to the deal till his son got the five per cent shares in Siva's company.
[3] Subsequently the issue was raised on multiple times in Parliament of India by the opposition which demanded resignation of Mr P Chidambaram.
[5] According to The Pioneer and India Today reports, documents show that approval to the FDI proposal was indeed delayed about 7 months by P Chidambaram.