NEW Delhi, Jan 6 (PTI) The Delhi High Court on Thursday dismissed Bharatiya Janata Party leader Subramanian Swamy's plea seeking to set aside the Air India disinvestment process on the allegation that the methodology adopted by the government in the valuation of the national carrier was "arbitrary, illegal and against public interest".
The order was passed by a bench of Chief Justice D.N. Patel and Justice Jyoti Singh. The court said a detailed order will be uploaded.
Swamy has sought to set aside and revoke any action or decision or grant of any further approvals, permissions or permits by authorities with respect to the Air India disinvestment process.
On January 4, the court heard the arguments put forward by Swamy, Solicitor General Tushar Mehta and senior advocate Harish Salve, who appeared in the matter on behalf of Talace Private Limited, the private limited company set up by Tata Group to acquire Air India, and had reserved the order.
Swamy also sought a CBI (Central Bureau of Investigation) investigation into the role and functioning of authorities, and the submission of a detailed report before the court.
The plea was opposed by the counsel for Centre and Talace Pvt Ltd.
In October last year, the Centre accepted the highest bid made by a Tata Sons company for 100 per cent equity shares of Air India and Air India Express, along with the government's 50 per cent stake in ground-handling company Air India-SATS Airport Services Private Limited – the first privatisation in the country in 20 years.