Good Morning. Action begins early Monday morning with the CBI conducting raids at the residence and office of former communications minister Dayanidhi Maran in connnection with the Aircel-Maxis deal.

The CBI raids came after a First Information Report had been filed against Maran.

TA Krishnan and Ralph Marshall of the Maxis group have also been named in the FIR.

Maxis had bought 74 per cent stake in telecom company Aircel in March 2006. Sindya Securities & Investments Provate Limited, owned by Suneeta Reddy and her husband P Dwarakanath Reddy, owns the remaining 26 per cent.

At the centre of the probe is a statement by Aircel founder C Sivasankaran, recorded in June by the CBI. According to the statement, he was coerced by Dayanidhi Maran -- when he was the telecom minister (2004-2007) -- to sell out to Maxis. Maxis had paid $800 million for the deal.