AirAsia Case: R Venkataraman Says He Has Been Wrongly Named as an Accused by the CBI
The Air Asia case relates to alleged violation of norms by directors of the aviation company for relaxation of 5/20 rules in the aviation sector to get licenses for international operations, as well as violation of Foreign Investment Promotion Board (FIPB)rules, the CBI has alleged.
New Delhi, May 30: Amid escalating tensions over the Air Asia India Case, its Non-Executive Director, R Venkataraman on Wednesday released a statement saying he has been wrongly named as an accused by the Central Bureau of Investigation (CBI). Venkataraman stated that all the allegations against him of wrongdoings are baseless and are a part of a smear campaign to discreet him.
In his statement, Venkataraman said emails purportedly written by him were circulated in media on the context of the issue of 5/20 in the aviation sector. He claimed that Tata Trusts contributes to nearly Rs 1200 crores each year in philanthropist activities.
The Air Asia case relates to alleged violation of norms by directors of the aviation company for relaxation of 5/20 rules in the aviation sector to get licenses for international operations, as well as violation of Foreign Investment Promotion Board (FIPB)rules, the CBI has alleged.
As per reports, the CBI said that officials related to AirAsia colluded with unknown government officials during the UPA rule and tried to lobby with civil servants later to have the 5/20 rule amended. The investigative agency alleged that the AirAsia Group CEO lobbied with government servants for clearances, removal of existing 5/20 aviation rule and change in regulatory policies.
To recall, the CBI on Tuesday booked Air Asia Group CEO Tony Fernandes among others under the Prevention of Corruption Act for violating aviation rule to get international flying licenses. The CBI has also booked Air Asia Director (Bengaluru) Ramachandran Venkatraman, and DTA consultancy Pvt Ltd founder Deepak Talwar.
B.O. Lingan of Air Asia Berhad Malaysia, Rajendra Dubey- director of HNR Trading PTE Ltd Singapore, Sunil Kapoor- chairman of Total Food Services, Rashid Mansion, Worli Point (food services) have also been named in the case.
To recall, the 5/20 rule came into effect in 2004 which said that a carrier needs to be in operation for five years and possess 20 aircraft to become eligible to fly abroad. However, in June 2016, the NDA government amended the rule and removed the 5-year operation clause, though the CBI FIR does not make it clear whether it says the policy change was effected through corrupt practices.
(The above story first appeared on LatestLY on May 30, 2018 06:42 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).