Tata Sons disproves Cyrus Mistry’s charges in AirAsia case

Cyrus Mistry

R Venkat who is a close aide of Ratan Tata on Wednesday discredited former chairman Cyrus Mistry for wrongdoings in AirAsia India. Venkat is the managing trustee of Tata Trusts and a shareholder and director of AirAsia India.

Tata Sons on this refute said “We strongly reject the statement from Mistry which seeks to insinuate wrongdoings in the affairs of AirAsia India by Venkat”. It futher added that the company, along with AirAsia India, has taken steps in civil and criminal courts which have cleared the air in relation to the mischievous allegations by Mistry’s family-run companies in the tribunal proceedings.

Cyrus Mistry, in his email written a day after being removed from the chairman’s post stated that fraudulent transactions of about ₹22 crore took place at AirAsia India involving non-existent parties in the country and Singapore. He also stated that Venkat considered these transactions as non-material and didn’t encourage further investigation. Currently, the ₹22-crore transaction is under the scanner of Enforcement Directorate.

Tata Sons is taking legal action against Mistry for his work which have impacted the group’s reputation. While talking about the allegations from Cyrus Mistry, Tata Sons said that it has never restored to such tactics.