Allegations against CEO Tony Fernandes baseless: AirAsia India non-exec director
AirAsia Group CEO Tony Fernandes AirAsia Group CEO Tony Fernandes
A day after the Central Bureau of Investigation (CBI) registered a case against AirAsia India and its officials for allegedly trying to manipulate government policies to get an international licence, R Venkataramanan, the non-executive director of the airline, said allegations of wrongdoing against him are baseless and that he has been wrongly named as an accused by the agency.
The budget carrier is majority-owned by Tatas and Venkataramanan has around 1.5 per cent shareholding in the joint venture with AirAsia Berhad. “In my capacity as non-executive director of Air Asia India Limited, I have been wrongly named as an accused by the CBI on operational matters where I had little or no role to play,” he said in a statement. The CBI has registered a case against AirAsia Group CEO Tony Fernandes, Venkataramanan and other officials for allegedly trying to manipulate government policies through corrupt means to get international licence.
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“It is commonly known that the present accusations qua Air Asia India find their root in baseless allegations made by Cyrus P Mistry and the Shapoor Pallonji Group against Tata Trusts Trustees (me included) and Tata Sons in his ‘revenge’ legal actions,” he said.
Venkataramanan is also the managing trustee of the Sir Dorabji Tata Trust and is responsible for management and oversight of all the Tata Trusts, according to the website of Tata Trusts. Venkataramanan said the motivated allegations are part of the smear campaign run to discredit him and the work being done by the Tata Trusts, which contribute Rs 1,200 crore each year to philanthropic activities.
“Despite, Cyrus Mistry and his company’s efforts to discredit the Trusts, we resolve to enhance the quality of life of our people,” he said. The CBI has alleged that Venkataramanan was lobbying in the government to secure mandatory approvals, some of them via “non-transparent means”, including the then Foreign Investment Promotion Board clearance, no-objection certificate and the attempt for removal or modification of 5/20 rule. The norm, which required local airlines to be in operation for at least 5 years and a minimum fleet of 20 planes to start foreign operations, was done away with in 2016.
Referring to the emails purportedly written by him in the context of the issue of 5/20 norm in the aviation sector, he said this has been a much debated policy matter and that “Air Asia India was one of the many airlines that had formally sought a review of this policy”.
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