New Delhi: A set of e-mails between former Tata Sons Chairman Cyrus Mistry and Tata Sons group legal counsel Bharat Vasani show that irregularities in the manner which AirAsia India was being managed started as early as March 2014, three months before it launched its maiden flight in India.
The emails – which are attached to a fresh affidavit filed by Mistry with the National Company Law Tribunal on January 21, 2017 – show that the mounting irregularities prompted Vasani, frustrated over his inability to push the board into making quick changes, into resigning from his secondary position as a board member of AirAsia India in late 2015
The documents, which The Wire has reviewed, also show that the chief legal officer was increasingly anxious and concerned over the way AirAsia India was being managed and was particularly upset over the company’s lax attitude towards keeping proper financial records.
Curiously, Vasani’s own affidavit, filed with the law tribunal as part of Tata Sons’ reply to Mistry, makes no mention of these irregularities or his concerns. In his affidavit, Vasani states that he resigned from AirAsia India because of the workload and a desire to focus on his duties as the conglomerate’s chief legal counsel.
In his filing, Mistry has consequently alleged that Vasani “could have been forced to commit perjury” in order to “protect the Managing Trustee of the Tata Trusts and other close respondents of Respondent No. 2 [Ratan Tata]”.
25/01/17 The Wire/Business Standard
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The emails – which are attached to a fresh affidavit filed by Mistry with the National Company Law Tribunal on January 21, 2017 – show that the mounting irregularities prompted Vasani, frustrated over his inability to push the board into making quick changes, into resigning from his secondary position as a board member of AirAsia India in late 2015
The documents, which The Wire has reviewed, also show that the chief legal officer was increasingly anxious and concerned over the way AirAsia India was being managed and was particularly upset over the company’s lax attitude towards keeping proper financial records.
Curiously, Vasani’s own affidavit, filed with the law tribunal as part of Tata Sons’ reply to Mistry, makes no mention of these irregularities or his concerns. In his affidavit, Vasani states that he resigned from AirAsia India because of the workload and a desire to focus on his duties as the conglomerate’s chief legal counsel.
In his filing, Mistry has consequently alleged that Vasani “could have been forced to commit perjury” in order to “protect the Managing Trustee of the Tata Trusts and other close respondents of Respondent No. 2 [Ratan Tata]”.
25/01/17 The Wire/Business Standard
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