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    Tata Trusts denies reports of raids on its offices, backs boss

    Tata Trusts denies reports of raids on its offices, backs boss

    Tata Trusts denies reports of raids on its offices, backs boss
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    By Sanjeeban Sarkar   IST (Updated)

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    The Tata Trusts boss had said the accusations against him find their root in baseless allegations made by former Tata Group chairman Cyrus Mistry.

    Tata Trusts on Wednesday reaffirmed trust in its managing trustee, R Venkataramanan, and denied reports that the trusts' offices were raided by investigating authorities in relation to the controversy around Air Asia India Limited, in which Tata Sons Limited owns a 49% stake.
    The office of Venkataramanan was visited by the authorities and clarifications sought on some papers relating to Air Asia India, some of which were taken by the authorities, Tata Trusts said in a statement.
    Venkataramanan is a Non-Executive Director and a nominee of Tata Sons on the board of Air Asia India Limited.
    The Central Bureau of Investigation (CBI) is investigating  Venkataramanan and several others for allegedly lobbying to relax aviation rules for AirAsia India with kickbacks to officials.
    The Tata Trusts boss had said the accusations against him find their root in “baseless allegations made by former Tata Group chairman Cyrus Mistry and Shapoor Pallonji Group against the trustees of Tata Trusts, including him, and Tata Sons.”
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