Janata Party president Dr Subramanian Swamy has raised several questions on the ownership and effective control of Jet Airways post its deal with Abu Dhabi-based Etihad Airlines and on the security concerns related with the deal. In a letter sent to Prime Minister Manmohan Singh, the Janata Party president had requested to adequately scrutinize the proposal between Jet and Etihad before granting the approval.
He said, "All scrutiny and investigation in the past have for one vested reason or another, been suppressed and never acted upon putting Indian security gravely at risk. The allegations of serious underworld connections from the united Arab Emirates (UAE) continue to haunt Jet's ownership and need to be pre-examined by the Intelligence Bureau (IB), Department of Revenue Intelligence (DRI) and other Intelligence services."
"It is essential to examine the ownership of Tail Winds Ltd, registered in Isle of Man, a tax haven, as to who the true shareholders and beneficial owners are, prior to and as a consequence of the proposed transaction. This would be important to establish and ensure that it is a genuine and NRI owned company and has no other shareholders. In addition, it should also be proved that it has not been financed from inappropriate and unacceptable sources," Dr Swamy said.
30/07/13 moneylife.com
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He said, "All scrutiny and investigation in the past have for one vested reason or another, been suppressed and never acted upon putting Indian security gravely at risk. The allegations of serious underworld connections from the united Arab Emirates (UAE) continue to haunt Jet's ownership and need to be pre-examined by the Intelligence Bureau (IB), Department of Revenue Intelligence (DRI) and other Intelligence services."
"It is essential to examine the ownership of Tail Winds Ltd, registered in Isle of Man, a tax haven, as to who the true shareholders and beneficial owners are, prior to and as a consequence of the proposed transaction. This would be important to establish and ensure that it is a genuine and NRI owned company and has no other shareholders. In addition, it should also be proved that it has not been financed from inappropriate and unacceptable sources," Dr Swamy said.
30/07/13 moneylife.com
