NEW DELHI: After the CBI, the ED has now registered a prison case of money-laundering against AirAsia officers and others for allegedly trying to manipulate government insurance policies thru corrupt means to get global licence for its Indian venture AirAsia India Limited, officers stated on Thursday.
The central probe company, they stated, has pressed sections of the Prevention of Money Laundering Act (PMLA) to probe if alleged tainted finances have been used to create unlawful property and it has taken cognisance of the CBI FIR to hotel its personal case.
They added that the accused in its FIR, known as the Enforcement Case Information Report (ECIR), are identical as the ones within the complaint of the CBI.
The company, they stated, will move into the cash trail of the accused and the entire deal and a joint probe by way of the 2 agencies is anticipated to henceforth move ahead within the case.
The company's office in Mumbai has been probing a separate case against the airline and its executives beneath the Foreign Exchange Management Act (FEMA).
This probe within the case, registered final year, used to be initiated at the basis of the claims of ousted Tata Group chairman Cyrus Mistry's allegation that fraudulent transactions of Rs 22 crore, involving non-existent entities in India and Singapore, have been carried out in an example involving the airline.
The CBI, in its prison FIR registered two days back, had booked Group CEO of AirAsia Tony Fernandes, Tharumalingam Kanagalingam sometimes called Bo Lingam, former Deputy Group CEO of Malaysia-based AirAsia Berhad, and R Venkataramanan, Director AirAsia India Ltd, Bengaluru, besides corporations AirAsia India Pvt Ltd and AirAsia Berhad.
The allegation pertains to AirAsia officers and others allegedly trying to manipulate government insurance policies thru corrupt means to get global licence for its Indian venture AirAsia India Limited.
The CBI case has been registered beneath 120-B (prison conspiracy) of the IPC and sections 13(2) read with 13 (1) (d) of the Prevention of Corruption Act.
The company had alleged that Venkataramanan used to be lobbying within the government to protected obligatory approvals, some of them thru "non-transparent means", including the then Foreign Investment Promotion Board (FIPB) clearance, No Objection Certificate and the try for removal or amendment of 5/20 rule.
It is said that to be eligible for global operations, the corporate used to be required to have five years of revel in and fleet of 20 airplane as consistent with 5/20 rule.
The company is but to get global flying permit as it currently has best 18 airplane, they stated.
Fernandes wanted it to fly across the world from the day of having flying permit granted in May, 2014, it alleged.
He and his local Indian partner Tata Sons thru their nominee Venkatramanan would lobby in government to get all approvals including FIPB clearance and amend or removal of existing 5/20 rule for global operations, the FIR has alleged.
The company has also named Rajender Dubey, Director of Singapore-based HNR Trading pte Ltd, Sunil Kapur, Chairman Total Food Services, Mumbai and Deepak Talwar, Principal and Founder DTA consulting, New Delhi and the corporate HNR Trading as alleged lobbyists who used their influence to get 5/20 rule comfortable "before General Elections of 2014".
AirAsia had denied any wrongdoing after the CBI filed the case and carried out raids at a couple of premises.
It is said that AirAsia India Ltd -- a joint venture between Tata sons and Malaysian company AirAsia Berhad -- used to be indirectly controlled and operated by way of the Malaysia team and in particular AirAsia, Berhad violating various existing norms of erstwhile Foreign Investment Promotion Board, now defunct.
The central probe company, they stated, has pressed sections of the Prevention of Money Laundering Act (PMLA) to probe if alleged tainted finances have been used to create unlawful property and it has taken cognisance of the CBI FIR to hotel its personal case.
They added that the accused in its FIR, known as the Enforcement Case Information Report (ECIR), are identical as the ones within the complaint of the CBI.
The company, they stated, will move into the cash trail of the accused and the entire deal and a joint probe by way of the 2 agencies is anticipated to henceforth move ahead within the case.
The company's office in Mumbai has been probing a separate case against the airline and its executives beneath the Foreign Exchange Management Act (FEMA).
This probe within the case, registered final year, used to be initiated at the basis of the claims of ousted Tata Group chairman Cyrus Mistry's allegation that fraudulent transactions of Rs 22 crore, involving non-existent entities in India and Singapore, have been carried out in an example involving the airline.
The CBI, in its prison FIR registered two days back, had booked Group CEO of AirAsia Tony Fernandes, Tharumalingam Kanagalingam sometimes called Bo Lingam, former Deputy Group CEO of Malaysia-based AirAsia Berhad, and R Venkataramanan, Director AirAsia India Ltd, Bengaluru, besides corporations AirAsia India Pvt Ltd and AirAsia Berhad.
The allegation pertains to AirAsia officers and others allegedly trying to manipulate government insurance policies thru corrupt means to get global licence for its Indian venture AirAsia India Limited.
The CBI case has been registered beneath 120-B (prison conspiracy) of the IPC and sections 13(2) read with 13 (1) (d) of the Prevention of Corruption Act.
The company had alleged that Venkataramanan used to be lobbying within the government to protected obligatory approvals, some of them thru "non-transparent means", including the then Foreign Investment Promotion Board (FIPB) clearance, No Objection Certificate and the try for removal or amendment of 5/20 rule.
It is said that to be eligible for global operations, the corporate used to be required to have five years of revel in and fleet of 20 airplane as consistent with 5/20 rule.
The company is but to get global flying permit as it currently has best 18 airplane, they stated.
Fernandes wanted it to fly across the world from the day of having flying permit granted in May, 2014, it alleged.
He and his local Indian partner Tata Sons thru their nominee Venkatramanan would lobby in government to get all approvals including FIPB clearance and amend or removal of existing 5/20 rule for global operations, the FIR has alleged.
The company has also named Rajender Dubey, Director of Singapore-based HNR Trading pte Ltd, Sunil Kapur, Chairman Total Food Services, Mumbai and Deepak Talwar, Principal and Founder DTA consulting, New Delhi and the corporate HNR Trading as alleged lobbyists who used their influence to get 5/20 rule comfortable "before General Elections of 2014".
AirAsia had denied any wrongdoing after the CBI filed the case and carried out raids at a couple of premises.
It is said that AirAsia India Ltd -- a joint venture between Tata sons and Malaysian company AirAsia Berhad -- used to be indirectly controlled and operated by way of the Malaysia team and in particular AirAsia, Berhad violating various existing norms of erstwhile Foreign Investment Promotion Board, now defunct.
ED files money laundering case against AirAsia, officials
![ED files money laundering case against AirAsia, officials]()
Reviewed by Kailash
on
May 31, 2018
Rating:
