DrSwamy stands between India Sell out on Jet & Fairness! Following are some of the points Janata Party President Subramanian Swamy has made in a letter to Prime Minister Manmohan Singh after the Foreign Investment Promotion Board approved the Jet-Etihad deal: * Proposed operational arrangement between Jet Airways and Etihad Airways in conflict with the civil aviation regulation relating to ownership and effective control of an airline * Cosmetic modifications made by Etihad and Jet as recently as on July 25 to manage a favourable decision from the Foreign Investment Promotion Board, and alarmingly do give “effective control” to Etihad. FIPB ill-advised to proceed on the basis of these modifications * In the process of examining the ownership and effective control, government needs to first verify Indian ownership and control, supposedly in the hands of a non-resident Indian, Naresh Goyal. Eighty-four per cent held in the erstwhile OCB–Tail Winds, where ownership and funding has been questioned for many years without any real answers emerging * Examine the ownership of Tail Winds registered in the Isle of Man, a tax haven, as to who the true hareholders and beneficial owners are
Posted on: Thu, 01 Aug 2013 00:57:04 +0000
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