Clearances through the Foreign Investment Promotion Board (FIPB) have sometimes stoked controversy, but few have got into issues of criminality as has happened in the cases of INX Media and Aircel-Maxis. These and a few more have landed former finance minister P Chidambaram in the soup.
But right from the early days of liberalisation, there have been political controversies surrounding several cases that landed on the FIPB table and which, in turn, have often led to court battles.
We examine two of the most headline-grabbing ones here.
The most recent was the AirAsia case. The Malaysia-based airline submitted an application