Judiciary- Above Politics


two birds with one stone: first, they are foreclosing the possibility of any single Indian house getting a bulk of the shares and, second, they are giving the 'rupeeised' companies the look of being joint sector units. It is possible that once the public sector financial institutions get a taste of honey, they might be tempted to acquire a larger share and more control in these units, but this element of risk has always to be there. Besides, if the public sector bodies start adopting such a course in a big way, the 'rupeeised' companies and their overseas principals can always make a noise about it and allege that India is nationalising foreign capital on the sly.