June 26, 2018

Statement from Tata Sons

Mumbai: At its meeting held today, the board of Tata Sons was updated on the issues concerning Air Asia India (AAIL) and particularly matters pertaining to the investigations being carried out by official agencies. In this context, the board expressed satisfaction that AAIL was co-operating fully with agencies investigating this matter. The board is aware that prior audits and forensic reports were initiated by AAIL on some of the issues being currently investigated and based on such reports there have been no findings of any wrongdoing on the part of its nominee director – R Venkataramanan.

The board expressed its confidence in its nominee director on the board of AAIL – Mr Venkataramanan who would continue to serve on the board of AAIL.