AirAsia India investigation: Tata Trusts backs Venkataramanan

AirAsia India investigation: Tata Trusts backs Venkataramanan

Trustees of the Tata Trusts on Thursday reiterated that the reported official investigations relating to AirAsia India, a public limited company in which Tata Sons is a 49% shareholder, have nothing whatsoever to do with the affairs of any of the Tata Trusts. They noted that papers and documents relating to the Trusts were neither seen nor called for by the investigators.

The office of managing trustee R Venkataramanan, in his capacity as a non-executive director and a nominee of Tata Sons on the board of AirAsia India, in the Trusts office premises, was visited by the authorities, they said. They added clarifications had been sought on some papers relating to AirAsia India, some of which were taken by the authorities.

The trustees expressed concern that inaccurate and mischievous reports were carried by some media entities to give an impression that the Tata Trusts’ offices were raided by the investigating authorities, which did not take place. They reaffirmed their support to Venkataramanan.

Source: Financial Express