Thread by @barandbench

#DelhiHighCourt is set to hear a plea filed by BJP Rajya Sabha MP @Swamy39 challenging Air India disinvestment.

@Swamy39 appearing in person before the Court. Solicitor General Tushar Mehta appearing for Centre.
Bench is yet to assemble.
#AirIndiaDisinvestment

Chief Justice DN Patel and Justice Jyoti Singh appear. Matter starts.
Swamy making his submissions.

Swamy: The disinvestment process was announced by PIB last year. The bidding process is unconstitutional, mala fide and corrupt and rigged in favour of the Tatas.

Swamy: The other bidder was a consortium led by the Spicejet owner. After the bidding process, a story appeared in press that the second bidder said he was happy that he participated because if he had not, the bidding process could not have gone forward.

Bench points out that some pages are not legible.
#DelhiHighCourt #AirIndiaDisinvestment

CJ: There are several pages that are not legible. You will have to refile.
Swamy: It was not conveyed by the registry at any stage.
#DelhiHighCourt #AirIndiaDisinvestment

Swamy: There is clear statement that the insolvency process is ongoing in Madras High Court which passed orders against Spicejet and therefore it was not entitled to bid. This means there was only one bidder and the bid cannot take place.
#DelhiHighCourt #AirIndiaDisinvestment

SG Tushar Mehta begins his submission.
Mehta: The petition is based on three misconceptions.
#DelhiHighCourt #AirIndiaDisinvestment

Mehta: The Respondent 6 is Talace Private Limited which acquired Air India. It is wholly owned by Tata Sons and has nothing to do with Air Asia. Whatever Air Asia faced in past is completely irrelevant here. None of the two entities have any criminal proceedings.

Mehta: The second ground is that Spicejet is facing some proceedings in Madras High Court. But Spicejet was never part of the Consortium. It was its owner, Ajay Singh.
#DelhiHighCourt #AirIndiaDisinvestment

Mehta: Third. The disinvestment is a policy decision. What was taken into account was that Air India was running into losses. The decision was taken into 2017 and the condition was whenever we invite the bidding till that day the losses will be incurred by government...

...and after that by the winner of the bid. This is not something that has been done surreptitiously.

Mehta: There is nothing that requires your scrutiny under 226 in this.
#DelhiHighCourt #AirIndiaDisinvestment

Bench: So Air Asia was not a part of bidding?
Mehta: Not at all.

Senior Advocate Harish Salve making his submissions for Tatas.

Salve: The successful bidder here is a 100% Indian company owned 100% by an Indian.
#DelhiHighCourt #AirIndiaDisinvestment

Salve: Share purchase agreement has been signed and everything is in public domain. These are very large transactions. From 2017, Government has been facing difficulties to sell the airline. There is nothing in this petition.
#DelhiHighCourt #AirIndiaDisinvestment

Salve: No particulars are given. They can just repeat that there is corruption but no details are given.
#DelhiHighCourt #AirIndiaDisinvestment

Swamy is referring to a CBI FIR against Air Asia.

Swamy: The Tatas are very much a part of Air Asia. This matter has been pending before Your Lordships and you have asked the CBI and ED to make investigations including in the Tatas' role.
#DelhiHighCourt #AirIndiaDisinvestment

Swamy: I am not against disinvestment. I have always been in favour of free market. To say I am opposing disinvestment is completely wrong. I have been attacked by the left-wing for my stand.
#DelhiHighCourt #AirIndiaDisinvestment

Swamy: The matter requires a full fledged discussion as it affects the entire country.
#DelhiHighCourt #AirIndiaDisinvestment

Swamy: I have raised the issue of impropriety, illegality and corruption.
#DelhiHighCourt #AirIndiaDisinvestment

Swamy: This disinvestment is a gigantic corruption. There is no accountability in the process and therefore requires a full-fledged investigation.
#DelhiHighCourt #AirIndiaDisinvestment

CJ: They say that the policy decision was taken in 2017 and that losses are to be incurred by R6.
#DelhiHighCourt #AirIndiaDisinvestment

Swamy: We don't know what is there.
CJ: Loss will not be on government but on highest bidder. Is that correct?
Swamy: Just because a public sector company is losing money doesn't mean you privatise it.

Swamy: I am a member of the standing committee and Air India was making money till 2004. The profitable routes were given to Emirates and other Arab airlines.
#DelhiHighCourt #AirIndiaDisinvestment

Swamy: I am not on the question of loss. I am on the process of procedure which has been rigged in favour of one company.
Mehta now shares a chart on Court's screen.

Bench goes on mute for discussion.

Bench now dictates the order.

Bench directs the parties to file their notes. Court fixes the case for orders on Thursday.
CJ: We will pass orders the day after. We must get the notes the by tomorrow.

#Breaking Delhi HIgh Court to pronounce its orders in @Swamy39 plea challenging disinvestment of Air India on Thursday.

"Air India Disinvestment process rigged in favour of Tata:" Subramanian Swamy to Delhi High Court

Policy decision, nothing surreptitious: SG Tushar Mehta

Court to pronounce order on Thursday

report by @prashantjha996

#AirIndia @Swamy39

Read story: bityl.co/AKrz

"I am not against disinvestment, free market:" Subramanian Swamy during plea challenging Air India disinvestment.

Read full story: bityl.co/AKv0

#AirIndiaDisinvestment #DelhiHighCourt @Swamy39