Ex-Tata Power Exec Named AirAsia India CFO
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.