Ex-Tata Power Exec Named Ai­rA­sia In­dia CFO

The Economic Times - - Companies: Pursuit Of Profit - Our Bureau

Mum­bai: Ai­rA­sia In­dia has ap­pointed Deepak Ma­hen­dra, a re­tired Tata Power ex­ec­u­tive, as its chief fi­nan­cial of­fi­cer, in a sign that the air­line’s In­dian par­ent has en­hanced its in­volve­ment in its affairs.

Ma­hen­dra was chief of cor­po­rate fi- nance and ac­counts at Tata Power. He started his ca­reer with Tata Steel. Tata Sons and Ai­rA­sia Berhad own 49% each in the air­line. The rest is owned by chair­man S Ra­mado­rai and direc­tor R Venkatara­manan. Ma­hen­dra’s ap­point­ment comes weeks af­ter the air­line’s for­mer fi­nance chief Ankur Khanna re­signed. Ma­hen­dra joins at a time when Ai­rA­sia In­dia is un­der sev­eral scan­ners on is­sues of al­leged fi­nan­cial bungling, man­age­ment con­trol and cor­po­rate gov­er­nance. A case against the air­line has been reg­is­tered by the En­force­ment Di­rec­torate — a fi­nance min­istry body re­spon­si­ble for en­forc­ing eco­nomic laws and fight­ing eco­nomic crime in In­dia — on vi­o­la­tion of the For­eign Ex­change Man­age­ment Act (FEMA),1999.

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