MUMBAI: Former Tata crew leader Cyrus Mistry on Thursday hit back at Tata Trusts' R Venkataraman for dragging his name in the AirAsia India case, saying it was once a "ridiculous attempt" to query the probe agency CBI's independence and to cloak his personal "alleged misadventures" at the airline.
Mistry, who was once ousted from Tata Group after an acrimonious boardroom combat and is engaged in a long-running felony combat with Tatas since then, said the board of Tata Sons and the Tata Trustees must worry themselves over the decline in governance requirements at the finances carrier.
He denied as "malicious" and "defamatory" the allegations levelled against him via Venkataraman, who's AirAsia India's non-executive director and figures amongst those against whom the CBI has filed a case in the AirAsia India subject.
Venkatarman had the previous day alleged that the "present accusations qua Air Asia India find their root in baseless allegations made by Cyrus P Mistry and the Shapoor Pallonji Group against Tata Trusts Trustees (me included) and Tata Sons in his 'revenge' legal actions."
The CBI has registered a case against AirAsia Group CEO Tony Fernandes, Venkataramanan and different officers for allegedly trying to manipulate govt insurance policies through corrupt approach to get international licence.
"It is well documented that Mr R Venkataraman was intimately involved in the affairs of AirAsia India right from its inception. He has had many roles including that of Executive Assistant to Mr Ratan Tata at the time of the formation of the company (AirAsia India), Tata Sons' nominee on the board, as well as that of a shareholder with a 1.5 per cent stake in the company," Mistry said in a statement nowadays.
The finances carrier is majority-owned via Tatas and Venkataramanan has around 1.five according to cent shareholding in the joint venture with AirAsia Berhad.
"Therefore, his weak excuse that he was only a non-executive director without any responsibility is totally without any merit...The Board of Tata Sons and the Tata Trustees need to concern themselves over the decline in governance standards at AirAsia India that this shameful case reveals," Mistry added in the statement.
The Tata Brand has all the time stood for the best ranges of ethics and governance, the previous chairman said including "It is therefore deeply disturbing that a few individuals with alleged questionable motives are today bringing disrepute to the Tata Brand."
"In my capacity as non-executive director of AirAsia 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," Venkatraman had said.
"R Venkataraman, as the Managing Trustee of the Tata Trusts, should know better than to drag the name of such a remarkable institution into an investigation by the CBI over his alleged personal integrity and alleged corrupt business dealings," Mistry said in the statement.
"This ridiculous attempt to question the independence of the CBI and to cloak his alleged misadventures by using my name is treated with the contempt it deserves," he said.
His alleged actions, which can be nowadays below investigation, raise grave public concerns over his (Venkataraman's) credibility and ability to be the custodian of India's largest public charitable accept as true with. Needless to state, I deny the entire malicious and defamatory allegations against me," Mistry mentioned.
Mistry, who was once ousted from Tata Group after an acrimonious boardroom combat and is engaged in a long-running felony combat with Tatas since then, said the board of Tata Sons and the Tata Trustees must worry themselves over the decline in governance requirements at the finances carrier.
He denied as "malicious" and "defamatory" the allegations levelled against him via Venkataraman, who's AirAsia India's non-executive director and figures amongst those against whom the CBI has filed a case in the AirAsia India subject.
Venkatarman had the previous day alleged that the "present accusations qua Air Asia India find their root in baseless allegations made by Cyrus P Mistry and the Shapoor Pallonji Group against Tata Trusts Trustees (me included) and Tata Sons in his 'revenge' legal actions."
The CBI has registered a case against AirAsia Group CEO Tony Fernandes, Venkataramanan and different officers for allegedly trying to manipulate govt insurance policies through corrupt approach to get international licence.
"It is well documented that Mr R Venkataraman was intimately involved in the affairs of AirAsia India right from its inception. He has had many roles including that of Executive Assistant to Mr Ratan Tata at the time of the formation of the company (AirAsia India), Tata Sons' nominee on the board, as well as that of a shareholder with a 1.5 per cent stake in the company," Mistry said in a statement nowadays.
The finances carrier is majority-owned via Tatas and Venkataramanan has around 1.five according to cent shareholding in the joint venture with AirAsia Berhad.
"Therefore, his weak excuse that he was only a non-executive director without any responsibility is totally without any merit...The Board of Tata Sons and the Tata Trustees need to concern themselves over the decline in governance standards at AirAsia India that this shameful case reveals," Mistry added in the statement.
The Tata Brand has all the time stood for the best ranges of ethics and governance, the previous chairman said including "It is therefore deeply disturbing that a few individuals with alleged questionable motives are today bringing disrepute to the Tata Brand."
"In my capacity as non-executive director of AirAsia 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," Venkatraman had said.
"R Venkataraman, as the Managing Trustee of the Tata Trusts, should know better than to drag the name of such a remarkable institution into an investigation by the CBI over his alleged personal integrity and alleged corrupt business dealings," Mistry said in the statement.
"This ridiculous attempt to question the independence of the CBI and to cloak his alleged misadventures by using my name is treated with the contempt it deserves," he said.
His alleged actions, which can be nowadays below investigation, raise grave public concerns over his (Venkataraman's) credibility and ability to be the custodian of India's largest public charitable accept as true with. Needless to state, I deny the entire malicious and defamatory allegations against me," Mistry mentioned.
AirAsia case: Cyrus Mistry hits back at Tata Trusts' Venkataraman
Reviewed by Kailash
on
June 01, 2018
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