Foreign firms pulled out 10.7 billion in 2011

FDI into India has risen exponentially since the 2000s. However,over the last three years some of this money is being repatriated, the report said.

Sector-wise details are not available but we judge that the services,manufacturing and real estate sectors have probably seen the maximum outflow, Nomura said.

Global deleveraging may have forced companies to sell their Indian assets and repatriate funds to their home country. At the same time,domestic push factors such as slowing potential growth,the high cost of doing business and regulatory uncertainty have weakened the investment climate,likely causing this erosion. This is not a good sign, it said.

High Court cautions IPG pilotsThe Bombay High Court on Friday cautioned the Indian Pilots Guild IPG that they may be inviting trouble by refusing to report to work.

You pilots may have your problems but when there is a court order you should first comply, the court said.

A vacation bench of the court was hearing the IPGs petition challenging Air Indias de-recognising the association and sealing its office premises at Kalina.

De-recognition is the consequence of holding AI to ransom, said Air Indias counsel SU Kamdar.

IPGs counsels Pradeep Sancheti and Jamshed Mistry told the court that the IPG,representing over 400 pilots,had not called for a strike but had reported sick.

The High Court,however,directed Air India to let the IPG access their sealed office and retrieve their documents. Air India has been asked to file a reply to IPGs application in one week.