{"id":28070,"date":"2013-05-02T12:15:51","date_gmt":"2013-05-02T06:45:51","guid":{"rendered":"https:\/\/www.legalindia.in\/news\/?p=28070"},"modified":"2013-05-02T12:15:51","modified_gmt":"2013-05-02T06:45:51","slug":"consumer-is-king-sc-says-and-clears-hurdles-for-fdi-in-retail","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/consumer-is-king-sc-says-and-clears-hurdles-for-fdi-in-retail","title":{"rendered":"Consumer is king: SC says and clears hurdles for FDI in retail"},"content":{"rendered":"<p>NEW DELHI: The\u00a0<a href=\"https:\/\/economictimes.indiatimes.com\/topic\/Supreme-Court\">Supreme Court<\/a>\u00a0today cleared the hurdles for the implementation of\u00a0<a href=\"https:\/\/economictimes.indiatimes.com\/topic\/FDI-in-multi-brand-retail\">FDI in multi-brand retail<\/a>\u00a0sector saying that the &#8220;consumer is king and if that is the philosophy working behind the policy then what is wrong&#8221;.<br \/>\nThe apex court said the policy aimed at &#8220;throwing out&#8221; the middleman, who are &#8220;curse to Indian economy&#8221; and &#8220;sucking&#8221; it, has to be &#8220;welcomed&#8221;.<\/p>\n<p>A bench headed by Justice R M Lodha said the policy does not suffer from any unconstitutionality or illegality requiring it to be quashed.<\/p>\n<p>&#8220;This court does not interfere in the policy matter unless the policy is unconstituional, contrary to statutory provisions or arbitrary or irrational or there is total abuse of power.<\/p>\n<p>&#8220;The impugned policy cannot be said to suffer from any of the vires,&#8221; the bench, also comprising justices Madan B Lokur and\u00a0<a href=\"https:\/\/economictimes.indiatimes.com\/topic\/Kurien-Jospeh\">Kurien Jospeh<\/a>, held while dismissing a PIL challenging the notification on the\u00a0<a href=\"https:\/\/economictimes.indiatimes.com\/topic\/FDI\">FDI<\/a>\u00a0in multi-brand retail sector.<\/p>\n<p>Before pronouncing the order, the bench said the policy was for the benefit of the consumer, farmers and the retailers with the objective to eliminate middlemen.<\/p>\n<p>&#8220;Consumer is the king and if that is the philosophy working behind the policy what is wrong. The policy is to free the economy from the middleman. Middleman is sucking our economy. These are suckers to be thrown out for direct benefit of consumers. If that is the objective of the policy what is wrong with it.<\/p>\n<p>&#8220;The middleman is a curse to\u00a0<a href=\"https:\/\/economictimes.indiatimes.com\/topic\/Indian-economy\">Indian economy<\/a>. They work as sucker and they have to be thrown out and that is the object of the policy and you have to welcome it,&#8221; the bench said and added that the policy would bring choice for the consumers who are the real king.<\/p>\n<p>The bench in its order said &#8220;it is thus left to the choice of state governments whether or not to implement policy to allow FDI upto 51 per cent in multi-brand retail&#8221;.<\/p>\n<p>It rejected the contention that Departement of Industrial Policy and Promotion (\u00a0<a href=\"https:\/\/economictimes.indiatimes.com\/topic\/DIPP\">DIPP<\/a>) under its business rule was not empowered to make policy pronouncment.<\/p>\n<p>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 as &#8220;there is no challenge to the amendements in Foreign Exchange Management (Transfer or issue of Security by a person, resident, outside India) Regulation, 2000), by which FDI in multi-brand retail sector was allowed.<\/p>\n<p>While upholding the policy, the bench said, &#8220;We have carefully considered the submission made by petitioners and the challenge is not founded on any material&#8221;.<\/p>\n<p>During the hearing, the bench said the policy of FDI in multi-brand retail was discussed and debated in detail in both Houses of Parliament before it was voted in favour of the government.<\/p>\n<p>The bench noted that the policy was prepared after detail study of the economy of developing countries like China, Brazil, Argentina, Singapore, Indonesia and Thailand where FDI is permitted upto 100 per cent, local retailers co-exist along with organised retail and are integral in the organised retail chain.<\/p>\n<p>&nbsp;<\/p>\n<p>PTI<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: The\u00a0Supreme Court\u00a0today cleared the hurdles for the implementation of\u00a0FDI in multi-brand retail\u00a0sector saying that the &#8220;consumer is king and if that is the philosophy working behind the policy then what is wrong&#8221;. The apex court said the policy aimed at &#8220;throwing out&#8221; the middleman, who are &#8220;curse to Indian economy&#8221; and &#8220;sucking&#8221; it, [&hellip;]<\/p>\n","protected":false},"author":21,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[85],"tags":[23644,23643,22454,23641,23638,23642,23637,23640,23645,23639,12630,19913,47726],"class_list":["post-28070","post","type-post","status-publish","format-standard","hentry","category-corporate-law-news","tag-argentina","tag-brazil","tag-china","tag-departement-of-industrial-policy-and-promotion-dipp","tag-fdi-in-multi-brand-retail","tag-fdi-policy-and-the-pil","tag-implementation-of-fdi-in-multi-brand-retail-sector","tag-indian-economy","tag-indonesia-and-thailand","tag-justice-kurien-jospeh","tag-justice-madan-b-lokur","tag-singapore","tag-supreme-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Consumer is king: SC says and clears hurdles for FDI in retail<\/title>\n<meta name=\"description\" content=\"NEW DELHI: The\u00a0Supreme Court\u00a0today cleared the hurdles for the implementation of\u00a0FDI in multi-brand retail\u00a0sector saying that the &quot;consumer is king and if - Get the latest legal news from the Supreme Court, High Courts, and government. 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A bench of justices R M Lodha and A R Dave, however, said that the policy suffers from \"curable\" irregularity of want of legal sanction and asked the RBI to amend\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24374,"url":"https:\/\/www.legalindia.com\/news\/supreme-court-refuses-to-interfere-in-fdi-in-retail-policy","url_meta":{"origin":28070,"position":2},"title":"Supreme Court refuses to interfere in FDI in retail policy","author":"Legal India Admin","date":"November 6, 2012","format":false,"excerpt":"In Delhi The Supreme Court refused to interfere with the policy on FDI in retail saying that if it does not stand in Parliament then it would be at government's peril. A bench of justice RM Lodha and AR Dave told that the policy making is the \"sole prerogative of\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23873,"url":"https:\/\/www.legalindia.com\/news\/pil-on-fdi-in-retail-sc-seeks-government-view","url_meta":{"origin":28070,"position":3},"title":"PIL on FDI in retail: SC seeks government view","author":"Legal India Admin","date":"October 6, 2012","format":false,"excerpt":"Confused over certain clauses in the government\u2019s controversial policy allowing 51% foreign direct investment (FDI) in multi brand retail and 100% in single brand retail market, the Supreme Court has sought the assistance of either attorney general or solicitor general to clear the doubts. It also said only FDI policy\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41100,"url":"https:\/\/www.legalindia.com\/news\/delhi-hc-seeks-rbi-reply-on-pil-over-e-retail","url_meta":{"origin":28070,"position":4},"title":"Delhi HC seeks RBI reply on PIL over e-retail","author":"Legal India News","date":"January 25, 2016","format":false,"excerpt":"Delhi High Court today sought the RBI's response on a PIL alleging that as per one of its circulars, retail trading in any form through e-commerce would not be permissible for companies which receive foreign direct investment (FDI). A bench of Chief Justice G Rohini and Justice Jayant Nath issued\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2015\/08\/NCDRC.jpg?fit=420%2C239&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":26579,"url":"https:\/\/www.legalindia.com\/news\/interest-of-small-traders-should-not-be-affected-by-fdi","url_meta":{"origin":28070,"position":5},"title":"Interest of small traders should not be affected by FDI","author":"Legal India Admin","date":"January 23, 2013","format":false,"excerpt":"The\u00a0Supreme Court\u00a0told that interest of small retail traders should not be affected due to foreign direct investment (FDI) in retail sector and sought response from the Centre on how it intends to safeguard their interests. A bench headed by Justice R M Lodha asked the Centre to file its response\u2026","rel":"","context":"In &quot;Corporate Law News&quot;","block_context":{"text":"Corporate Law News","link":"https:\/\/www.legalindia.com\/news\/category\/corporate-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/p6H5Bf-7iK","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/28070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/comments?post=28070"}],"version-history":[{"count":0,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/28070\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media?parent=28070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/categories?post=28070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/tags?post=28070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}