Friday, October 27, 2006

SpiceJet comes under NSC scanner

New Delhi: India’s apex security agency, the National Security Council (NSC), has warned that Foreign Direct Investment (FDI) in certain industrial and service sectors of the Indian economy can be a security threat, news reports said.
In a classified document prepared by the National Security Council Secretariat (NSCS) on ‘potential threats to India’s national security from foreign direct investment (FDI)’, the NSC proposed legislation to not only cover future foreign participation in the Indian economy but subject past agreements to security monitoring and scrutiny, The Economic Times reported, quoting the document.
Domestic airline SpiceJet has also come under the NSC scanner. "Royal Airways, incorporated in Pakistan and the owner of SpiceJet, has indulged in stock market manipulations. The credentials of foreign investors associated with the aviation enterprise have been questioned abroad," it said.
26/10/06 Gulf Times, Qatar