Subrmanian Swamy vs Union of India - 2023 Supreme(Del) 975

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2023 Supreme(Del) 975

SATISH CHANDRA SHARMA, SUBRAMONIUM PRASAD
Subrmanian Swamy – Appellant
Versus
Union of India – Respondent

Advocates appeared:
Petitioner in person.
Mr. Kirtiman Singh, CGSC with Mr. Waize Ali Noor, Ms. Kunjala Bhadwaj, Mr. Madhav Bajaj and Mr. Yash Upadhyay, Advocates, for the UOI.
Ms. Anjana Gosain, Ms. Nippun Sharma and Ms. Hetika Vadhera, Advocates, for the Respondent-3 and 6.
Mr. Rajiv Nayyar, Senior Advocate with Mr. Jaiveer Shergil, Ms. Ruby Singh Ahuja, Mr. Varun Khanna, Mr. Ishan Gaur, Mr. Akshay Aggarwal Mr. Vasu Singh, Ms. Mandhira and Ms. Aakriti Vohra, Advocates, for the Respondent.
Mr. Anupam S. Sharma, SPP-CBI with Mr. Prakarsh Airan, Ms. Harpreet Kalsi, Mr. Abhishek Batra and Mr. Ripudaman Sharma, Advocates, for the Respondent.
Mr. Anupam S. Sharma, Special Counsel-ED with Mr. Prakarsh Airan, Ms. Harpreet Kalsi Mr. Abhishek Batra and Mr. Ripudaman Sharma, Advocates, for the Respondent.

JUDGMENT

Satish Chandra Sharma, C.J. The instant writ petition has been filed as a Public Interest Litigation (PIL) challenging the decision dated 03.04.2013 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 relevant portion of the said decision reads as under:

"5. The approval is for M/s Air Asia Investment Ltd., Malaysia to incorporate a new Joint Venture company with a foreign equity of 49% amounting to US $ 15 million (Rs.80,98,27,500/- approx). The balance 51% equity is held in the ratio of 30% and 21% by M/s Tata Sons Ltd. And M/s Telestra Trade place Pvt. Respectively.

The consideration amount for the aforesaid investment will be paid out of the inward remittance of foreign exchange received through normal banking channels and as per RBI's Notification No. FEMA 20/200-RB dated 3.5.2000 as amended from time to time."

2. It is t

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2023 Supreme(Del) 975

SATISH CHANDRA SHARMA, SUBRAMONIUM PRASADSubrmanian Swamy – AppellantVersusUnion of India – Respondent

SATISH CHANDRA SHARMA, SUBRAMONIUM PRASAD
Subrmanian Swamy – Appellant
Versus
Union of India – Respondent