BHUBANESWAR: The trustees of Tata Trusts on Thursday reposed their faith in R. Venkataramanan, who is the non-executive director and a nominee of Tata Sons on the Board of Air Asia India.
The development comes after CBI, last month, 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 an international licence.
A combined meeting of the trustees of Tata Trusts was held on Thursday 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.”
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 Limited, 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. Tata Sons holds 49 per cent in Air Asia India Ltd.
“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.