The board of Tata Sons expressed confidence in its nominee director on the Board of AirAsia India Ltd. (AAIL) R. Venkataramanan and said he would continue to serve on the Board of AAIL.
In a statement, Tata Sons said its board was updated on the issues concerning AAIL and particularly, matters pertaining to the investigations being carried out by official agencies. It added, “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, Mr. Venkataramanan.”