1. Probing former execs for irregular expenses: AirAsia India

Probing former execs for irregular expenses: AirAsia India

Days after ousted Tata group Chairman Cyrus Mistry alleged Rs 22 crore worth fraudulent transactions at AirAsia India, the airline today said probe is going on against certain former executives for "irregular personal expense claims" and other charges.

By: | New Delhi | Published: October 31, 2016 7:27 PM
airasia AirAsia India is a joint venture between Tatas, which own 51 per cent stake, and Malaysia’s AirAsia Berhad.

Days after ousted Tata group Chairman Cyrus Mistry alleged Rs 22 crore worth fraudulent transactions at AirAsia India, the airline today said probe is going on against certain former executives for “irregular personal expense claims” and other charges.

AirAsia India is a joint venture between Tatas, which own 51 per cent stake, and Malaysia’s AirAsia Berhad.

“There is an ongoing investigation against certain former personnel of AirAsia (India) Ltd involving irregular personal expense claims and certain company charges. This has already been reported to and discussed at the previous board meeting of AirAsia (India) Ltd,” the airline said in a statement.

The carrier also said it would not make any specific reference to the matters investigated at this stage as it may be prejudicial to AirAsia (India) Ltd or the personnel investigated.

Noting that the airline, AirAsia Berhad and Tata Sons look into all allegations of impropriety and misappropriation very seriously, the statement said the three entities do not approve of any unethical practices and would take very stern action against the perpetrators at all levels of the organisation.

“The three entities would like to reiterate that they strictly adhere to internal procedures and policies,” it added.

A day after being sacked as Chairman, Mistry in a letter to Tata Sons Board on October 25 raised “ethical concerns” in AirAsia India and alleged that forensic investigation revealed fraudulent transactions of Rs 22 crore involving non-existent entities in India and Singapore.

The Civil Aviation Ministry said last week that it was keeping a close watch on developments related to the purported disclosures made by Mistry about AirAsia India and would act if something actionable is brought to its notice.

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