ED may investigate AirAsia case; Venkataramanan denies any wrongdoing

The Enforcement Directorate (ED) has sought from the Central Bureau of Investigation (CBI) details of the case of alleged corruption filed against top executives of AirAsia, according to ED sources.

“We will analyse the case registered by the CBI to see if a fresh case has to be filed by us or what further action we can take,” said an ED official. The CBI on Tuesday named AirAsia Group CEO Tony Fernandes and Tata Trusts’ R Venkataramanan for allegedly trying to subvert aviation laws for their joint venture AirAsia India by bribing government officials.

The ED is already probing corporate lobbyist Deepak Talwar, the middleman named in the CBI FIR, in a case of alleged money laundering and had raided several premises linked with him a week ago.

Both AirAsia and Venkataramanan have denied the charges, saying the accusations were made with mala fide intention and will be defended in court.

Tata Sons shareholders vote to remove Mistry as director

Latest News - Shareholders of Tata Sons, in an extraordinary general meeting (EGM) on Monday afternoon, voted to remove former chairman Cyrus Mistry as director of the company. The meeting took place at the Bombay House, the headquarters of the $103-billion group.

The meeting was attended by Tata Sons interim chairman Ratan Tata, N Chandrasekaran, who will take over as Tata Sons chairman on February 21, and other Tata Sons directors, including Ajay Piramal. Mistry did not attend the meeting. A one-line statement from Tata Sons said (Read More)

No end to saga? Mistry to challenge Chandra's appointment at Tata Sons

Latest Bussiness News -The sparring match between Tata Sons and ousted chairman Cyrus Mistry is far from over as the latter has now decided to oppose the appointment of Natarajan Chandrasekaran as his successor.

According to a report published in The Economics Times, Mistry has shot off a letter to the Tata Group board challenging the legality of the appointment. He has termed the appointment 'illegal' as the matter was still sub-judice.

Mistry, who is still a director of Tata Sons, had not attended the meeting that appointed Chandrasekaran as its chairman. 

"Unlike the October board meeting when the decision to sack Mistry was not mentioned in the board agenda circulated before, this time the members were aware of (Read More)