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by enitihas 2159 days ago
I think you are trying to argue both sides here. If the government is not afraid of doing shady stuff, like the Chinese government, then it is free to do anything to any billionaire, and being rich doesn't get anyone any power, like China.

If the government respects the rule of law, and doesn't do any extra judicial stuff, even then it makes sense to not let a competing foreign power like China be a stakeholder in your important companies.
1 comments
kranner 2159 days ago
If the Indian government is not afraid of contravening Indian laws, it can grab Chinese shares anyway.

If it wants to maintain the appearance of being lawful and fair, there is already an Enemy Property Act, 1968 to more or less support grabbing Chinese investments (perhaps with an amendment or two). Under what pretence would they grab Ambani's property? There is Eminent Domain in India, but only AFAIK for land ownership, and even that requires fair compensation at market prices.

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enitihas 2159 days ago
It can't grab the Chinese shares without angering China, and anyone in the whole wide world would rather anger any billionaire than China.

> Under what pretence would they grab Ambani's property?

If there is no existing law, government can make laws. I mean the government did nationalize so many banks at once right? The government is sovereign. The amount of power it holds over it's own people, even the richest ones, is far far higher than what it holds over another strong sovereign state.

Anyways this was all about power. There are so many other reasons for ensuring someone in the country holds the wealth rather than your competitor.

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shripadk 2159 days ago
> there is already an Enemy Property Act, 1968 to more or less support grabbing Chinese investments

No. The Enemy Property Act, 1968 is specifically made for Pakistani Nationals after the 1965 Indo-Pak War. It is not generic. To declare China as an Enemy a proper War should take place between India and China. Is China ready for such a misadventure?

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kranner 2159 days ago
The Wikipedia article is incomplete on the topic. The act applies to Chinese owned properties as well.
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