Delhi High Court Closes Proceedings On A Plea By Subramanian Swamy Challenging FIPB Clearance Granted To AirAsia

The Delhi High Court has closed the proceedings on a petition filed by the former Member of Parliament Dr. Subramanian Swamy challenging the foreign investment in AirAsia.

A Division Bench comprising Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad observed, “In view of the fact that there is no foreign investment as of today, the prayers made in the writ petition have become purely academic. The Petitioner, who appears in person, has stated that he is no longer interested in pursuing the writ petition. … In view of the statement made by the Petitioner appearing in person, the writ petition stands disposed of.”

The Bench was hearing a plea against the flying license and Foreign Investment Promotion Board (FIPB) clearance that was granted to AirAsia.

The petitioner appeared in person while CGSC Kirtiman Singh, Senior Advocate Rajiv Nayyar, Advocate Anjana Gosain, and SPP Anupam S. Sharma represented the respondents.

In this case, Swamy filed a Public Interest Litigation (PIL) challenging the decision passed by the Ministry of Finance, Department of Economic Affairs, Government of India approving M/s Air Asia Investment Ltd. (a Malaysian Company) to incorporate a new Joint Venture Company with foreign equity of 49% amounting to USD 15 Million (Rs. 80,98,27,500/- approx) and the balance 51% equity share was to be held in the ratio of 30% by M/s Tata Sons Ltd. and 21% by M/s Telestra Trade Pvt. Ltd.

The High Court in view of the above context said, “Material on record further discloses that vide an Order dated 11.07.2019, the Central Bureau of Investigation (CBI) was impleaded as Respondent No.6 in the writ petition and the CBI was directed to file the Status Report in a sealed cover. Similarly, this Court vide Order dated 23.01.2020, permitted the Petitioner to implead Enforcement Directorate (ED), Ministry of Finance as Respondent No.8 and the ED was also directed to file the Status Report in a sealed cover. Status Reports in sealed covers have been filed before this Court and this Court has perused the Status Reports.”

The Court further noted that the sealed cover reports placed before the Court have been re-sealed and handed over to the counsel for the CBI and ED.

Accordingly, the Court closed the case.

Cause Title- Dr. Subramanian Swamy v. Union of India & Ors. (Neutral Citation: 2023/DHC/001826)

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