Air Asia case: Tata Sons Board repose faith in Venkataramanan
Mumbai, June 26: The board of Tata Sons on Tuesday 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.
A Tata Sons statement here said its board was updated on the issues concerning Air Asia India Ltd (AAIL) pertaining to the investigations being carried out by official agencies.
"In this context, the Board expressed satisfaction that AAIL was cooperating fully with agencies investigating this matter," it said.
"The Board is aware that prior audits and forensic reports were initiated by AAIL on some of the issues being currently investigated and based on such reports there have been no findings of any wrongdoing on the part of its nominee director R. Venkataramanan."
The development comes after AirAsia India Director Venkataramanan was accused among other things of violating FDI norms in giving effective management to a foreign entity through FIPB clearance in 2013. Venkataramanan has denied the charges.
Tata Sons holds a 49 per cent stake in Air Asia India which is a public limited company.
Earlier this month, the trustees of Tata Trusts, which hold a majority stake in Tata Sons, expressed their confidence in Venkataramanan.
Last month, the CBI has named AirAsia Group CEO Tony Fernandes and others in a criminal case of violating FDI norms in giving effective management to a foreign entity through the Foreign Investment Promotion Board's (FIPB) clearance in 2013 and attempt to bribe for tweaking rules to get a licence for its joint venture to operate international flights.
The CBI FIR also names "unknown public servants" of the Civil Aviation Ministry, the then Foreign Investment Promotion Board, Venkataramanan, Director AirAsia, the AirAsia Group Deputy CEO T. Kanagalingam alias Bo Lingam.
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Domestic help held for stealing cash, jewellery from US couple's house in B'luru
Bengaluru (PTI): A 29 year-old man was arrested for allegedly stealing cash along gold and diamond jewellery worth Rs 1 crore from the house of a US couple here, police said on Wednesday.
He was employed as a domestic worker at their house.
Police managed to nab the accused identified as Chandan Roul, a native of West Bengal, they said. The entire stolen property was also recovered intact, police said.
The matter came to light on January 21 when the residents of the villa at Kodihalli, a husband-wife duo who originally hail from Texas, US and are working in Bengaluru filed a complaint at J B Nagar police station, they added.
According to police, the complainant alleged that when they returned home in the evening after work, they found that the gold and diamond jewellery kept in the locker of the bedroom cupboard had been stolen.
In the complaint, they also expressed suspicion about the domestic help who had been working in their house for the past six months.
"During the probe, our team examined the case from various angles and, within a few hours of the incident, we detained the domestic help near the villa where the complainant resides. During interrogation, the accused confessed to having committed the theft," a senior police officer said.
The accused further stated that he had kept the stolen gold and diamond jewellery at his residence in Sudhamanagar, he said.
Based on the information provided by him, on the same day, the police team seized 176 grams of gold and diamond jewellery and Rs 39,000 in cash from his residence. The total value of the seized property is Rs one crore, he added.
