Connect with us

Corporate

AirAsia CEO Tony Fernandes Among Others Booked By CBI

mm

Published

on

The Smarter way to get your business news – Subscribe to BloombergQuint on WhatsApp

The Central Bureau of Investigation has registered a case against AirAsia Group CEO Tony Fernandes and others over alleged violation of norms for getting international flying licences, officials said today.

The case relates to alleged violation of norms by directors of the aviation company for relaxation of 5/20 rules in the aviation sector to get licences for international operations, as well as violation of Foreign Investment Promotion Board rules, they said. Under the 5/20 rule, a company needs five years of experience and 20 aircraft to become eligible for the licence.

Besides Anthony Francis “Tony” Fernandes, Group CEO AirAsia Malaysia, the company AirAsia, Travel Food owner Sunil Kapoor, AirAsia Director R Venkatraman, aviation consultant Deepak Talwar, Director of Singapore-based SNR Trading Rajendra Dubey and unidentified public servants have been named in the first information report.

Also Read: India Probes AirAsia Chief Tony Fernandes for Alleged Corruption

Searches are being conducted at six locations in Delhi, Mumbai and Bengaluru, the officials said.

Fernandes allegedly lobbied with government servants for clearances, removal of existing 5/20 rule of aviation and change in regulatory policies, the agency has alleged.

Also Read: AirAsia’s Cheap Date Won’t Always Be So Easy to Please

The Smarter way to get your business news – Subscribe to BloombergQuint on WhatsApp

. Read more on Business News by BloombergQuint.

Raj is a college dropout. But don’t let that fool you his technical abilities are far more impressive to be judged on a sheet of paper he is a digital marketing professional and a tech expert. Being into the world of digital marketing learning from his colleagues he began researching on stocks and has been investing from the age of 18. He and Safdar are huge anime fans.

Continue Reading

Trending