TATA TRUSTS BACKS VENKAT IN AIR ASIA CASE

BIZ

Deccan Chronicle - - BUSINESS -

New Delhi: Tata Trusts on Thursday came out in sup­port of its man­ag­ing trustee R. Venkatara­manan, who is un­der in­ves­ti­ga­tion by the CBI for al­legedly try­ing to ma­nip­u­late gov­ern­ment poli­cies through cor­rupt means to get in­ter­na­tional li­cence for AirAsia In­dia. A com­bined meet­ing of the trustees of Tata Trusts was held this af­ter­noon and “reaf­firmed their com­plete trust and con­tin­ued sup­port to Venkatara­manan un­der whose ex­ec­u­tive lead­er­ship as Man­ag­ing Trustee, the Tata Trusts have done, and are con­tin­u­ing to do, out­stand­ing work across In­dia.” In a state­ment, Tata Trusts said its trustees also ex­pressed con­cern over “in­ac­cu­rate and mis­chievous re­ports” giv­ing an im­pres­sion that its of­fices were raided by in­ves­ti­gat­ing au­thor­i­ties, “which did not take place”. The of­fice of Venkatara­manan, in his ca­pac­ity as a non-ex­ec­u­tive di­rec­tor and a nom­i­nee of Tata Sons on the Board of Air Asia In­dia, in the trust of­fice premises, was vis­ited by the au­thor­i­ties and clar­i­fi­ca­tions sought on some papers re­lat­ing to Air Asia In­dia, some of which were taken by the au­thor­i­ties, Tata Trusts said. “The trustees cat­e­gor­i­cally re­it­er­ated that the re­ported in­ves­ti­ga­tions have noth­ing what­so­ever to do with the af­fairs of any of the Tata Trusts and noted that papers and doc­u­ments re­lat­ing to the Trusts were nei­ther seen nor called for by the in­ves­ti­ga­tors,” the state­ment said. — PTI

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