Delhi High court junks subramanian swamy plea against Air India divestment.

The Delhi High court on 6th January 2022 Thursday dismissed BJP MP subramanian swamy’s petition against the Air India divestment process and said that the  centre’s policy decision is not open to interference in judicial review in the absence of any illegality and arbitrariness being established by the petitioner. The court also said the decision on disinvestment was taken after following transparent procedure through multi-layered decision-making.

The disinvestment process of Air India Had started in June 2017 . Talace private limited a wholly owner subsidiary of Tata sons pvt Ltd , emerged as the highest bidder last year. Challenging the process of privatisation, swamy had argued that there is an ongoing investigation against Air Asia, where one of the shareholders is Air Asia Investment Ltd, Malaysia, and that they have direct and indirect control over talace . He also contended that the bidding process was tailor -made to facilitate talace in acquiring Air India by entertaining the bid on behalf of spicejet against which insolvency proceedings are going on before Madras High court. In the verdict pronounced on 6th January 2022 Thursday the division bench of chief justice D.N.patel and justice Jyoti Singh said neither Tata sons or talace are facing any criminal proceedings in relation to a petition filed by swamy in 2013 or in other matter. The bench said it is admitted case of swamy that talace is a wholly owned subsidiary of Tata sons.

“Both (talace) and Tata Sons Ltd are Indian entities and therefore , no question, arises of violation of foreign Direct investment policy. Moreover, Air Asia ( India ) pvt ltd has no interest in M/S Talace pvt Ltd, who is the highest bidder” High court.    

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this:
search previous next tag category expand menu location phone mail time cart zoom edit close