All the steps required as per law would be decided in course of time. In that complaint it was mentioned that though the FIPB approval had granted for Rs 4.6 crore, this company had brought in hundreds of crore of rupees in violation of the approval. It was then the company engaged the services with Chess Management Service Pvt Ltd, which has Karti Chidambaram as its promoter. "A response formulated as the advice from the Chess Management was submitted to the FIPB on June 26, 2008. The fresh application was submitted by the company mentioning that it made the 26 per cent downstream investment and the company mentioned that it had already made such an investment.

Source: Economic Times May 16, 2017 15:33 UTC