Top News
CBI alleges scam in AirAsia clearance during UPA government (Roundup)
New Delhi, May 29 (IANS) Targeting yet another alleged wrongdoing during the UPA regime, the CBI has named AirAsia Group CEO Tony Fernandes and others in a criminal case of violating FDI norms in giving effective management to a foreign entity through FIPB clearance in 2013 and attempt to bribe for tweaking rules to get a licence for its joint venture to operate international flights.
The CBI FIR also names “unknown public servants” of the Civil Aviation Ministry, the then Foreign Investment Promotion Board, R. Venkataramanan, Director AirAsia, the AirAsia Group Deputy CEO T. Kanagalingam alias Bo Lingam.
The FIR also alleges that in December 2014, Sunil Kapoor, who runs an in-flight catering company, along with Bo Lingam handed over a packet containing Rs 50 lakhs to facilitate the removal of the rule that required five years domestic flying experience and 20 aircraft to get a licence to fly internationally.
The CBI said it had received information that AirAsia India was indirectly controlled and operated by the AirAsia Group and particularly AirAsia Berhad, violating the norms of the then FIPB.
This structure was directly formalised through a “Brand Licence Agreement” signed by AirAsia represented by Fernandes and AirAsia Berhad represented by Bo Lingam on April 17, 2013 which indirectly made AirAsia India a de facto subsidiary rather than a joint venture.
As per the then FDI policy, foreign airlines were allowed to own up to 49 per cent of shares in domestic airlines but effective management control must remain with the Indian partner.
“It is further revealed that the shareholders and Indian partners of the joint venture, including the board members, were not only aware of these intentions but also consciously ensured violating the then FIPB norms. Hence, violation of FDI norms were prima facie found by giving effective management to a foreign entity.
The FIR alleges that Fernandes wanted the airline venture to be able to fly internationally from Day One and their local Indian partner Tata Sons Ltd through their nominee Venkataramanan would lobby to get all government approvals including the then FIPB clearance and amendment/removal of the existing 5/20 rules of international civil aviation.
It also names several others as playing a liasion role and that a secret cabinet note was sent in February 2014 to the cabinet to amend/remove 5/20 rule. The proposal, however, could not be approved since elections were already announced.
In its reaction, AirAsia India Limited (AAIL) said it refutes any wrongdoing and was cooperating with all regulators and agencies to present “correct facts”.
In November 2016, AAIL had initiated criminal charges against its ex CEO and also commenced civil proceedings in Bengaluru for such irregularities.
“In November, 2016 AAIL had initiated criminal charges against its ex-CEO and had also commenced civil proceedings in Bangalore for such irregularities,” Air Asia India’s Director Shuva Mandal was quoted as saying in a statement.
“We hope to bring early resolution to all such issues.”
–IANS
rak-rv-vsc/sar/bg
Top News
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.