Cypriot court annuls revocation of Indian businessman's citizenship

The Cypriot Administrative Court has annulled the 2021 cabinet decision to revoke the citizenship of Indian national Anubhav Aggarwal, who obtained a passport in 2016 through the defunct citizenship-by-investment program. The government had previously revoked the citizenship of Aggarwal, his wife, and his son following recommendations from the Nikolatos committee, which suggested he misled authorities regarding a financial fraud investigation in India involving his former company, ARK Imports Private Limited. Aggarwal was subject to an Interpol red notice and arrested in Abu Dhabi in 2020. Judge Ariadne Zervou ruled that the state failed to conduct a sufficient investigation, provided inadequate reasoning, and violated the principle of proportionality. The court specifically noted that the original investigative committee only suggested examining the possibility of revocation rather than recommending it outright. Furthermore, the court found that the revocation committee failed to properly evaluate the defense arguments submitted by Aggarwal’s legal team. Consequently, the act of revocation has been declared void, with the judge highlighting concerns regarding the potential for rendering the individual stateless.