Letters: Tata Trusts clarifies

The report, Power point, in yesterday’s Business Standard focuses on baseless and unsubstantiated allegations levelled by Mr Cyrus Mistry, former Tata Sons chairman, against me to cast aspersions on my character and conduct. Compiled below are the necessary facts as stated publicly at different points by the entities involved.
On Air Asia:

• On October 31, Air Asia, in a statement, said that “there is an ongoing investigation against certain former personnel of AirAsia (India) involving irregular personal expense claims and certain company charges. This has already been reported to and discussed at the previous board meeting of AirAsia (India). The airline, AirAsia Berhad and Tata Sons look into all allegations of impropriety and misappropriation very seriously, and the three entities do not approve of any unethical practices and would take very stern action against the perpetrators at all levels of the organisation.”
• Air Asia has also appointed former Maharashtra DGP, D Sivanandan to advise and strengthen the company's compliance programme.
• A private complaint has been lodged with the Bangalore police against certain individuals.
• The agenda item relating to Air Asia was only listed for the most recent board meeting. So it is completely false that the board of Tata Sons, “turned a blind eye to these contraventions”

On matters concerning Mr C Sivasankaran, the allegations are false and incorrect. Both Mr Sivasankaran and Tata Capital have clarified the issue multiple times.

On the alleged income tax summons, I would once again categorically deny that any I-T summons has been issued to me by the income tax department with regards to Tata Trusts’ avoidance of income tax.

I would request Business Standard to reach out to the Trusts or me for our point of view to ensure a fair and balanced version of reports on Tata Trusts and its executives.

R Venkataramanan Managing Trustee Tata Trusts