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FEMA - Highlights / Catch Notes

Home Highlights March 2023 Year 2023 This

Foreign Direct Investment Policy - permit foreign investment by ...


Court Declares Foreign Investment Petition Academic Due to Lack of Current Investment in Air Asia Joint Venture Case.

March 17, 2023

Case Laws     FEMA     HC

Foreign Direct Investment Policy - permit foreign investment by a foreign airline - PIL against 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 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. - 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. - HC

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