AirAsia, Tata JV deal fraught with illegalities: Subramanian Swamy business-standard/article/companies/airasia-tata-jv-deal-fraught-with-illegalities-swamy-113072501086_1.html The joint venture between Malaysian low-cost carrier AirAsia and Tata Group has been challenged in the Supreme Court by Subramanian Swamy. In a public interest litigation (PIL), Swamy has sought cancellation of Foreign Investment Promotional Board (FIPB) clearance to AirAsia. In an interview with CNBC-TV18, Swamy said that much talked about AirAsia deal is fraught with illegalities. Swamy alleged that only because of the commerce ministries huge pressure the civil aviation have decided not to pressure its point relating to allowing foreign direct investment only in existing airlines and not in new joint ventures.
Posted on: Thu, 25 Jul 2013 15:24:21 +0000
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