Kochi: The High Court Monday dismissed a state government petition challenging the title deed of land owned by plantation company Harrison Malayalam Limited (HML) and authenticity of its operations.
The Government had contented that being a foreign company, HML cannot hold land in the country.
A Division Bench comprising Justice Thottathil B Radhakrishnan and Justice A V Ramakrishna Pillai said if the state government has the clear assertion that the provisions of Foreign Exchange Regulation Act (FERA) are violated as regards the title of properties in the possession of the company, it can appropriately address such questions through separate proceedings.
If questions of public policy and public interest were involved, appropriate action in accordance with rule of law had to be followed, it said and refused to decide the issue in the present proceedings.
However, the bench clarified that all previous orders against the company would stand discharged and security, bank guarantee, if any, provided by the company would stand released.
Meanwhile, the company in a statement said following the judgment the HML has been absolved of allegations of irregularities and fraud as also of alleged violations under the Foreign Exchange Regulation Act (FERA).
Copies of all our title deeds and documents were examined by the High Court.