The Quint has exclusively accessed the affidavit filed by the Enforcement Directorate (ED) in the Supreme Court, which reveals that 54 cases of the Foreign Investment Promotion Board (FIPB) clearances are being investigated by the agency. All these FIPB clearances were given during the UPA I and II government.

The ED screened around 2,721 files related to the FIPB clearance. These files pertain to the period of May 2004 to 2009, and August 2012 to May 2014\. During this period, P Chidambaram was the Finance Minister of the UPA government. 

According to the affidavit, of the 2,721 files, the ED has shortlisted around 54 files related to the FIPB clearance given to different companies. Under the Prevention of Money Laundering Act (PMLA), the ED has also examined ‘the then Secretary, Additional Secretary, Deputy Secretary and Under Secretary’ of the Ministry of Finance.