“WHENEVER a foreign investor operates within the territory of a host country, the investor and its properties are subject to the legislative control of the host country along with the international treaties or agreements,” a five-judge Constitution bench of the Supreme Court declared last week. Deprivation of property may cause serious concern in the area of foreign investment, especially in the context of international law and investment agreements. “Even if the foreign investor has no fundamental right, let them know that the rule of law prevails in this country. Let the message be loud and clear,” the bench presided over by Chief Justice S H Kapadia said in the judgment, K T Plantation Ltd vs State of Karnataka. The court was considering the constitutional validity of the Roerich and Devika Rani Roerich Estate (Acquisition and Transfer) Act. The validity of the law taking over the property was upheld.
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