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Thursday, May 02, 2013

Apex Court Clears Hurdles For FDI In Multi-brand Retail
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New Delhi, May 1:  The Supreme Court has cleared the hurdles for implementing FDI in multi-brand retail sector, saying that the “consumer is king and if that is the philosophy behind the policy, then what is wrong.”

The apex court said the policy aimed at “throwing out” the middleman, who are a “curse to Indian economy” and “sucking” it, has to be “welcomed”.

A Bench headed by Justice R. M. Lodha said the policy does not suffer from any unconstitutionality or illegality requiring it to be quashed. “This court does not interfere in the policy matter unless the policy is unconstitutional, contrary to statutory provisions or arbitrary or irrational or there is total abuse of power.

“The impugned policy cannot be said to suffer from any of the vires,” the Bench, also comprising justices Madan B. Lokur and Kurien Jospeh, held while dismissing a PIL challenging the notification on the FDI in multi-brand retail sector.

The Bench in its order said “it is thus left to the choice of State governments whether or not to implement policy to allow FDI up to 51 per cent in multi-brand retail.”

The apex court further said there was no merit in the contention that the Centre has no authority to formulate FDI policy and the PIL filed by advocate M. L. Sharma has to be dismissed.