However, this was subject to conditions like substantial ownership and effective control of the airline being vested in Indian nationals.
The Delhi High Court on Wednesday allowed a plea to implead DGCA as a party to a PIL seeking quashing of approvals being granted by the Centre to operationalise the $30 million deal between Tata Sons and Malaysia-based AirAsia.
Over four months ago the Foreign Investment Promotion Board cleared a proposal for the setting up of a new airline, AirAsia India, by Malaysian carrier AirAsia which has joined hands with the Tata Group and Arun Bhatia of Telestra TradePlace in a 49:30:21 joint venture partnership.
Ratan Tata says FIPB nod for Tata Sons' new airline with AirAsia reflects investor friendly policies of Indian government.
With the launch of Tata AirAsia and Tata-SIA, the added capacity will bring down fares considerably, say observers.
Civil aviation ministry raises procedural issues in FIPB meeting.
AirAsia's Fernandes says CEO for India will be an Indian; proposed airline firm with Tata may hit ministry hurdle
FIA has filed two separate petitions challenging the approvals granted to Tata-Airasia and Tata-SIA Airlines deals respectively.
Chidambaram promises to maintain fiscal discipline; admits inflation is an issue.
The year gone by saw the high and mighty of the corporate world face the music in the Delhi High Court which held that the telecom majors are amenable to CAG audit and Mukesh Ambani's RIL struggling hard to get rid of an FIR lodged on gas pricing by the 49-day-old AAP regime.
