The Delhi High Court today stayed Reserve Bank of India's rejection of Pakistan International Airlines' request for regularisation of its branches in India.
Justice Rajiv Shakdher put on hold the decision of the Reserve Bank of India (RBI) as it did not disclose why the PIA's request to regularise its branches was rejected.
The RBI's lawyer orally told the court that the decision was taken based on a November 2017 letter from the Ministry of Finance (MoF) that PIA's request has been rejected.
The judge, however, said, "According to me, it (MoF letter) does not lead to any clarity as to why the request was rejected."
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