Section 144 in Ayodhya as Babri Masjid case enters final stage in SC

New Delhi, Mar 4: The government on Wednesday permitted NRIs to own up to 100 per cent stake in disinvestment-bound Air India.

The decision comes at a time when the government is looking to sell 100 per cent stake sale in the national carrier.

Union minister Prakash Javadekar said the Cabinet has approved allowing Non-Residents Indians (NRIs) to hold up to 100 per cent stake in Air India.

Allowing 100 per cent investment by Non-Resident Indians (NRIs) in the carrier would also not be in violation of SOEC norms. NRI investments would be treated as domestic investments.

Under the Substantial Ownership and Effective Control (SOEC) framework, which is followed in the airline industry globally, a carrier that flies overseas from a particular country should be substantially owned by that country's government or its nationals.

Currently, NRIs can acquire only 49 per cent in Air India. Foreign Direct Investment (FDI) in the airline is also 49 per cent through the government approval route.

As per the existing norms, 100 per cent FDI is permitted in scheduled domestic carriers, subject to certain conditions, including that it would not be applicable for overseas airlines.

In the case of scheduled airlines, 49 per cent FDI is permitted through automatic approval route and any such investment beyond that level requires government nod.

On January 27, the government came out witha Preliminary Information Memorandum (PIM) for Air India disinvestment. It has proposed selling 100 per cent stake in Air India along with budget airline Air India Express and the national carrier's 50 per cent stake in AISATS, an equal joint venture with Singapore Airlines.

Under the latest disinvestment plan, the successful bidder would have to take over only debt worth Rs 23,286.5 crore while the liabilities would be decided depending on current assets at the time of closing of the transaction.

This is the second attempt by the government in as many years to divest Air India, which has been in the red for long.

New Delhi, Mar 14: India on Friday was mulling over the option of deporting The Wall Street Journal's South Asia deputy bureau chief for misreporting Delhi riots in which over 50 people were killed last month. However, the government denied that it had made any such decision.

Ministry of External Affairs spokesperson Raveesh Kumar said that a complaint was registered against Eric Bellman, the WSJ South Asia deputy bureau chief based in New Delhi, by a private individual on the government's online grievance redressal platform.

"Referring the complaint to the related office is a routine matter as per standard procedure. No such decision on deportation has been taken by the Ministry of External Affairs," Kumar said.

However, government-funded Prasar Bharati News Services had earlier tweeted screenshots of the complaint which was filed by an undersecretary in the Ministry of External Affairs, Vinesh K Kalra, saying that the ministry has asked the Indian embassy in the US to "look into the request for immediate deportation of Bellman for his "anti-India behaviour".

The official had complained to the embassy about Bellman's controversial reportage on the killing of an Intelligence Bureau staffer named Ankit Sharma.

The WSJ had reported that Ankit Sharma's brother had said that he was killed by a mob belonging to a particular religious community. Ankit's brother later told Indian media that he never spoke to the WSJ reporter.

After the Prasar Bharati tweet got circulated widely on social media, the government backtracked and said that no such decision has been taken.

Srinagar, Apr 4: Two militants were reportedly killed in an encounter with security forces in Kulgam district of Jammu and Kashmir on Saturday, police said.

The security forces launched a cordon and search operation based on intelligence inputs about the presence of militants in Hardmand Guri village in Kulgam, a police spokesperson said.

"This operation based on a credible police input was launched this morning. Two terrorists have been reportedly killed so far," the spokesperson said, adding that the exchange of fire was going on.

Earlier, the police tweeted on its official handle that three militants had been trapped in the cordon. "Same group of #terrorists trapped who killed 3 civilians recently," the police said.