ED registers case against Air Asia over Rs 22 crore transaction
The allegation leveled by former chairman of Tata group Cyrus Mistry against Air Asia, in a letter to the board members and Tata trustees, is slowly inching towards being proved true
The allegation leveled by former chairman of Tata group Cyrus Mistry against Air Asia, in a letter to the board members and Tata trustees, is slowly inching towards being proved true.
Acting on a letter received from Bharatiya Janata Party MP Subramanian Swamy in November, demanding a probe into alleged fraudulent transactions of Rs 22 crore involving the aviation company, the Enforcement Directorate (ED) has registered a case under the Foreign Exchange Management Act (FEMA).
Sources in the ED confirmed that Air Asia officials have been summoned to appear before it.
Mistry had claimed in the letter that an internal forensic investigation revealed fraudulent transactions of Rs 22 crore involving non-existent parties in India and Singapore.
According to sources, Rs 12 crore of the amount was paid to Singapore-based HNR Trading, which had provided consultancy service to Air Asia (a joint venture of Malaysia’s AirAsia Berhad and Tata).
In his letter to ED chief Karnail Singh, Swamy had alleged that the money was a bribe given to set up the illegal Air Asia (India) aviation company and was paid through the hawala route.
Rs 12 cr
The amount paid to Singapore-based HNR, for providing consultancy service to Air Asia
Chakan Da Bagh cross-LOC trade registers turnover of Rs. 218 crores