The five questions in the Reference

The five questions raised in the Presidential Reference are:

1. Is auction the only permissible method for disposal of all natural resources across all sectors and in all circumstances?

2. Does not a broad proposition of law that only auctions can be resorted to for disposal of natural resources run contrary to several judgments of the Supreme Court including those of larger Benches?

3. Whether the enunciation of a broad principle, even though expressed as a matter of constitutional law, does not really amount to formulation of a policy and whether it has the effect of unsettling policy decisions formulated and approaches taken by successive governments over the years for valid considerations, including lack of public resources and the need to resort to innovative and different approaches for the development of various sectors of the economy.

4. What is the permissible scope for interference by courts with policymaking by the government, including methods for disposal of natural resources?

5. If the court holds, within the permissible scope of judicial review, that a policy is flawed, is it not obliged to take into account investments made under the said policy including investments made by foreign investors under multilateral/bilateral agreements?