For now, Enforcement Directorate sources maintain that Cyrus Mistry will not be questioned.
Mumbai:
The Enforcement Directorate has issued summons to officials and Management of Air Asia, a joint venture between Tata Sons Limited and AirAsia Investment Limited.
Sources in the Enforcement Directorate say that the probe agency has taken Suo moto cognizance based on an Independent Audit Report by Deloitte, commissioned by ousted Tata Sons Chairman Cyrus Mistry and a complaint by BJP lawmaker Subramanian Swamy.
It was alleged that payments were made to a Singapore-based company called HDR Trading and preliminary investigations reveal irregularities to the tune of Rs 12 crore. The Enforcement Directorate is probing whether these payments were made for political lobbying or kickbacks and masked as "consultancy services" which may or may not have been delivered.
The probe agency will also look into the role of Rajendra Dubey, a director of HDR Trading, which was hired for these services. Mr Dubey was a close aide of former AirAsia Chief Executive Mittu Chandilya.
The involvement of Mr Dubey's wife too is being probed by the agency.
The Enforcement Directorate will also investigate whether majority management control or Air Asia is vested in the hands of Indian stakeholders. There are allegations that this clause built within the the Brand Lease Agreement may have been violated.
For now, Enforcement Directorate sources maintain that Mr Mistry will not be questioned. However Mr Mistry's explosive open letter alleging irregularities in the Air Asia will be incorporated into the probe.
The Enforcement Directorate is referring to the probe as an "open investigation" under Foreign Exchange Management Act or FEMA charges, which covers civil offence. If evidence of laundering is unearthed, officials and those accused could be charged under Prevention of Money Laundering Act or PMLA, which covers criminal offence punishable with up to seven years of imprisonment.
In an email response to NDTV's query, an Air Asia spokesperson said "We have not received any official communication yet. If and when we do, the company will take appropriate steps."
Sources in the Enforcement Directorate say that the probe agency has taken Suo moto cognizance based on an Independent Audit Report by Deloitte, commissioned by ousted Tata Sons Chairman Cyrus Mistry and a complaint by BJP lawmaker Subramanian Swamy.
It was alleged that payments were made to a Singapore-based company called HDR Trading and preliminary investigations reveal irregularities to the tune of Rs 12 crore. The Enforcement Directorate is probing whether these payments were made for political lobbying or kickbacks and masked as "consultancy services" which may or may not have been delivered.
The probe agency will also look into the role of Rajendra Dubey, a director of HDR Trading, which was hired for these services. Mr Dubey was a close aide of former AirAsia Chief Executive Mittu Chandilya.
The involvement of Mr Dubey's wife too is being probed by the agency.
The Enforcement Directorate will also investigate whether majority management control or Air Asia is vested in the hands of Indian stakeholders. There are allegations that this clause built within the the Brand Lease Agreement may have been violated.
For now, Enforcement Directorate sources maintain that Mr Mistry will not be questioned. However Mr Mistry's explosive open letter alleging irregularities in the Air Asia will be incorporated into the probe.
The Enforcement Directorate is referring to the probe as an "open investigation" under Foreign Exchange Management Act or FEMA charges, which covers civil offence. If evidence of laundering is unearthed, officials and those accused could be charged under Prevention of Money Laundering Act or PMLA, which covers criminal offence punishable with up to seven years of imprisonment.
In an email response to NDTV's query, an Air Asia spokesperson said "We have not received any official communication yet. If and when we do, the company will take appropriate steps."
Track Latest News Live on NDTV.com and get news updates from India and around the world
