January 22, 2014. Dr. Manmohan Singh, Prime Minister, South Block, New Delhi.

Dear Prime Minister:

I write this letter to bring to your attention that the matter of FDI investment, in Jet Airways by Etihad, is getting more curious day by day. According to records in the Isle of Man, the real owner of Jet Airways has been a trust called Tailwinds. It is curious that the Tailwinds which was registered and incorporated on 13.11.91 with Registration No. 056352C was dissolved on 12.2.13, and a new company was incorporated by the same name, on the same day with a new Registration No. 009239V with 100% of the shares owned by Naresh Goyal. This information ought to have been conveyed by Jet Airways to the Ministry of Civil Aviation, SEBI, and to the FIPB, but was not for some obscure reasons but is uncondonable. Jet Airways has now mortgaged its shares in the HSBC Geneva for a loan to purchase from unknown persons in the old Tailwinds all their shares. Etihad Airways has stood guarantee for this loan. This means that if Mr. Naresh Goyal defaults on the repayment of the loan, the HSBC which does not know how to run an airline, would invoke the guarantee of Etihad to liquidate Mr. Naresh Goyals debt and thereby cause a complete transfer of Jet Airways to Etihads ownership. Hence I request you to initiate a comprehensive inter-ministerial inquiry assisted by the Intelligence Agencies including the Enforcement Directorate and pierce the corporate veil in the Jet -Etihad deal. It is a matter of record that in 1996 FDI became disallowed in passenger airlines, after a comprehensive review of the national security implications of foreign participation in Indian Airline ventures. Your Government has relaxed this decision in 2013 but you have left so many loopholes that the Indian owned airlines will all disappear within the next two years. Hence I think it is your duty to enforce strictly from national security angle the scrutiny of such FDI deals. Needless for me to say that some of the decisions taken to date have already resulted in corruption in high places, and betrayal of national interest as a consequence, about which you may not have yet been apprised.

Yours sincerely,

(SUBRAMANIAN SWAMY)