The Supreme Court is also responsible for the worsening financial condition: Harish Salve

New delhi date. September 17, 2019 Tuesday

Senior and respected lawmaker Harish Salve also made a statement blaming the Supreme Court for the country's deteriorating economy.

Salve said that in 2012, the Supreme Court revoked 122 licenses in the Two G spectrum case. The same year also ruled that the coal mine was canceled. The impact of these two rulings adversely affected the country's economy.

This was stated by Salve in an interview on a law-related website called The Leaflet. He said, 'I can understand the legal process against wrongly licensed people. But I think it wasn't fair to revoke so many licenses with foreign capital investors involved.

We have a law there that any foreign investor should invest in with an Indian partner when investing capital. But the foreign investor was unaware of the fact that his partner had obtained a license.

The foreign partners also became victims of the confrontation by Indian partners. Foreign investors have invested crores of rupees. The Supreme Court has revoked all licenses in one clause. That means billions of rupees of foreign investors were washed away. This does not have to have an impact on the economy.

Salve said that there was a malpractice in the allocation of coal mines between 1993 and 2011. At that time, the Supreme Court canceled all the allotments at a glance. At that time, it was said that after the Supreme Court decision, the country was losing about 1500 crore per month. This was also a judgment that adversely affected the economy.