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Days after being accused in AirAsia case, Tata Trusts backs Venkataramanan

The statement revealed that Venkataramanan's office in the Trust's office premises was visited by the authorities and clarifications sought on some papers relating to Air Asia India

IANS  |  Mumbai 

R Venkataramanan
R Venkataramanan

The trustees of on Thursday reposed their faith in R Venkataramanan, who is the non-executive director and a nominee of Tata Sons on the Board of Air Asia India.

The development comes after Director was accused among other things of violating norms in giving effective management to a foreign entity through clearance in 2013. has denied the charges.

hold a majority stake in Tata Sons. In turn, Tata Sons holds a 49 per cent stake in Air Asia India which is a

According to a statement from Tata Trusts: "The trustees categorically reiterated that the reported investigations have nothing whatsoever to do with the affairs of any of the and noted that papers and documents relating to the Trusts were neither seen nor called for by the investigators."

The statement revealed that Venkataramanan's office in the Trust's office premises was visited by the authorities and clarifications sought on some papers relating to Air Asia India, "some of which were taken by the authorities".

As per the statement, the trustees expressed concern that "inaccurate and mischievous reports were carried by some media entities" to give an impression that the Tata Trusts' offices were raided by the investigating authorities, which did not take place.

"The trustees reaffirmed their complete trust and continued support to Mr. under whose executive leadership as Managing Trustee, the Tata Trusts have done, and are continuing to do, outstanding work across India," the statement added.

First Published: Thu, June 14 2018. 22:36 IST
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