Named in CBI's FIR, AirAsia director R Venkataramanan blames ex-Tata Sons Chairman Cyrus Mistry and alleges 'revenge' legal action

R Venkataramanan, who is listed as the managing trustee of the Tata Trusts and is a director at AirAsia India, has issued a statement after being named in the FIR filed by the CBI in the matter of AirAsia India, a joint venture between Malaysia-based AirAsia and India's Tata Sons, allegedly violating norms for getting an international flying licence.

In his statement, Venkataramanan writes:

In my capacity as non-executive director of Air Asia India Limited, I have been wrongly named as an accused by the CBi on operational matters where I had little or no role to play.

It is commonly known that the present accusations qua Air Asia India find their root in baseless allegations made by Mr Cyrus P Mistry and the Shapoorji Pallonji Group against Tata Trusts Trustees (me included) and Tata Sons in his 'revenge' legal actions.

Emails purportedly written by me have been circulated in the media in the context of the issue of 5/20 in the aviation sector. This has been a much debated policy matter and Air Asia India was one of the many airlines that had formally sought a review of this policy.

I reiterate that all allegations of wrong doing or illegality against me are baseless. These motivated allegations are part of the smear campaign to discredit me and the work being done by the Tata Trusts, which contribute Rs 1,200 crores each year to philanthropic activities. Despite Mr Cyrus Mistry and his company's efforts to discredit the Trusts, we resolve to enhance the quality of life of our people.

READ | Here's The Full FIR Against AirAsia With All The Takeaways

In the FIR, Venkataramanan had been cited as having lobbied “with stakeholders in the Government of India to secure mandatory approvals, some of them through non-transparent means, including the then Foreign Investment Promotion Board (FIPB) clearance, NoC and the attempt for removal/modification of 5/20 rule”.

The 5/20 rule required all domestic airlines to fly for at least five years and have a fleet of at least 20 planes before starting international operations. On the 5/20 rule, the FIR's specific mention of Venkataramanan was: 

"source information further revealed that real controller of M/s. AirAsia (lndia) Ltd. Mr. Tony Fernandes wanted the airline venture to be able to fly internationally from day one and their local Indian partner i.e. M/s. Tata sons Ltd. through their nominee Shri R. Venkataramanan would lobby to get all Government approvals including the then FIPB clearance and amendment/removal of existing 5/20 rule of Indian International Civil Aviation”

Venkataramanan's allegations against Cyrus Mistry and 'revenge' legal actions likely refer to components of the legal battle that arose after the latter's acrimonious October 2016 ouster as Chairman of the Tata Sons.

The CBI's 10-page-FIR has been filed under IPC Section 120B (Criminal Conspiracy) and the Prevention of Corruption Act under section 13(2) (Criminal misconduct). The opening page of the FIR says the suspected offence was committed between the years 2013 to 2016.