Delhi HC closes case against foreign investment in Air Asia

The Delhi High Court has closed the proceedings on a petition challenging the flying licence and Foreign Investment Promotion Board (FIPB) clearance granted to AirAsia, saying the issue was "purely academic" in view of the absence of any foreign investment in the entity.

A bench headed by Chief Justice Satish Chandra Sharma recorded Air Asia (India) became a wholly owned subsidiary of Air India, which is now under Tata Sons Pvt. Ltd, last year and that the petitioner, former MP Subramanian Swamy, was no longer interested in pursuing the case filed in 2013.

"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. The petitioner, who appears in person, has stated that he is no longer interested in pursuing the writ petition. In view of the statement made by the petitioner appearing in person, the writ petition stands disposed of," said the bench, also comprising Justice Subramonium Prasad in the order dated March 13.

In his petition, Swamy had contended the flying rights granted to Air Asia, which was a joint venture of the Tata Group and Malaysia's largest budget airline AirAsia Berhad, were in violation of the government's policy on foreign investment.