AirAsia India denies 'wrong-doing' as CBI probes Group CEO
New Delhi, May 29: AirAsia India (AAIL) on Tuesday refuted any "wrong-doing" after the CBI registered a case against its Group CEO Tony Fernandes on alleged attempt to tweak rules to get an international flying licence for the airline.
According to the airline, it is co-operating with all regulators and agencies to present the correct facts.
"In November 2016, AAIL had initiated criminal charges against its ex-CEO and had also commenced civil proceedings in Bangalore for such irregularities," AirAsia India's Director Shuva Mandal said in a statement.
"We hope to bring early resolution to all such issues."
The airline's defence comes after the Central Bureau of Investigation (CBI) on Monday registered a case against the Malaysian billionaire.
The investigation agency on Tuesday conducted searches at five locations in Delhi, Mumbai and Bengaluru in connection with the case.
"A case has been registered against Fernandes and some other unidentified persons linked to the firm (AirAsia India)," CBI spokesperson R.K. Gaur said.
Gaur said Fernandes had lobbied and was trying to violate rule 5/20 that requires an airline to have a minimum of five years of flying experience and 20 aircraft to apply for international licences.
Interestingly, in 2016, the 5/20 norm was amended. Currently, a domestic airline requires 20 aircraft to apply for international flight rights.
The CBI has named Fernandes and others in a criminal case for violating FDI norms in giving effective management to a foreign entity through 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 (FIPB), R. Venkataramanan, Director AirAsia, and AirAsia Group Deputy CEO T. Kanagalingam alias Bo Lingam.
The FIR also alleges that in December 2014, Sunil Kapoor, who runs an in-flight catering company, along with Bo Lingam handed over a packet containing Rs 50 lakh to facilitate removal of the rule that required five years' domestic flying experience and 20 aircraft to get a licence to fly internationally.
The CBI said it had received information that AirAsia India was indirectly controlled and operated by the AirAsia Group and particularly AirAsia Berhad, violating the norms of the then FIPB.
This structure was directly formalised through a "Brand Licence Agreement" signed by AirAsia represented by Fernandes and AirAsia Berhad represented by Bo Lingam on April 17, 2013, which indirectly made AirAsia India a de facto subsidiary rather than a joint venture.
As per the then FDI policy, foreign airlines were allowed to own up to 49 per cent of share in domestic airlines but effective management control must remain with the Indian partner.
Bharatiya Janata Party Rajya Sabha member and former Union Minister Subramanian Swamy tweeted: "Finally the CBI is presently raiding AirAsia offices including of the CEO's. It is arising from my PIL in Delhi HC."
Currently, the Delhi High Court is hearing a case filed by Swamy against the grant of a flying licence to AirAsia India.
AirAsia (India) is a joint venture between Tata Sons and AirAsia Berhad, with AirAsia Investment.
The budget carrier commenced operations on June 12, 2014 and currently flies to 20 destinations across India with a fleet size of 18 A320 aircraft.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Six scholars, including two women, win Infosys Prize 2024
Bengaluru: Two women scientists are among the six winners of the Infosys Prize 2024 for Economics, Engineering and Computer Science, Humanities and Social Sciences, Life Sciences, Mathematical Sciences, and Physical Sciences, announced on Thursday by the Infosys Science Foundation (ISF) in Bengaluru.
The award was instituted by ISF in 2009.
The two women, who have been selected for the award this year, are Neena Gupta for Mathematical Sciences and Vedika Khemani for Physical Sciences.
Gupta, Professor in the Theoretical Statistics and Mathematics Unit at the Indian Statistical Institute, Kolkata, was awarded for her work on the Zariski Cancellation Problem, a fundamental problem in algebraic geometry first posed in 1949 by Oscar Zariski, one of the founders of modern algebraic geometry.
According to a statement released by ISF, she proved the striking result that Asanuma’s three-dimensional affine variety yields a negative answer to Zariski’s original Cancellation Problem in positive characteristic, in 2014.
Khemani, Associate Professor in the Physics Department at Stanford University, has been recognised for her wide-ranging and groundbreaking contributions to theoretical and experimental non-equilibrium quantum matter, most notably the discovery of time-crystals.
Arun Chandrasekhar, Professor, Department of Economics, Stanford University, won the Economics Prize for his contribution to the study of social and economic networks, using innovative data sets and drawing on theoretical methods from machine learning and computer science.
Engineering and Computer Science Prize is to be awarded to Shyam Gollakota, Professor, School of Computer Science and Engineering, University of Washington for his research in societally relevant areas such as smartphone-based affordable healthcare tools for low- and middle-income countries, battery-free computing and communication, and augmentation of human auditory sensing with artificial intelligence.
The Infosys Prize 2024 in Humanities and Social Sciences goes to Mahmood Kooria, Lecturer, School of History, Classics and Archaeology, University of Edinburgh, for his seminal contributions to the study of maritime Islam in a global perspective, with particular focus on Kerala in the pre-modern and early modern eras.
The Life Sciences Prize goes to Siddhesh Kamat, Associate Professor in the Department of Biology at the Indian Institute of Science Education and Research, Pune, for his discoveries concerning bioactive lipids, their receptors, and their metabolic and signaling pathways.
Speaking at the event organised to announce the award, Kris Gopalakrishnan, President, Infosys Science Foundation said the Infosys Prize has played a pivotal role in recognising brilliant minds whose contributions are shaping the future of research and science.
“This year, we refocused on early career researchers under the age of 40, recognising their immense potential and the promise of paradigm-changing work,” he added.
The prize for each category comprises a gold medal, a citation, and a prize purse of $100,000 (or its equivalent in INR). Narayana Murthy was also present at the event that was hosted at ISF’s office in Bengaluru.
According to the press note issued by ISF, previous laureates of the Infosys Prize, one of the biggest prizes announced in India, have gone on to receive several prestigious international awards, including the Nobel Prize (Abhijit Banerjee and Esther Duflo), the Fields medal (Manjul Bhargava and Akshay Venkatesh), the Dan David Prize (Sanjay Subrahmanyam), the MacArthur ‘genius’ Grant (Sunil Amrith), the Breakthrough Prize in Fundamental Physics (Ashoke Sen), and the Marconi Prize (Hari Balakrishnan).
