Tony Fernandes

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ED summons Air Asia CEO Tony Fernandes, top management on Jan 20

The Enforcement Directorate (ED) has summoned the entire top management of AirAsia, including its Malaysia-based CEO Tony Fernandes, in connection with a scam.

Officials said while Fernandes has been summoned on January 20, few others have also been asked to depose for questioning in the following days. The fresh summons have been issued to take the probe forward, they added.

The case relates to an alleged violation of norms by Group President Tharumalingam Kanagalingam also known as Bo Lingam, Arun Bhatia who held substantial stake in the airline, former Chairman S Ramadorai, Senior Group Executive Naresh Algan and ex-CEO Mittu Chandiliya for relaxation of the 5/20 rule to secure a licence to operate internationally as well as a violation of Foreign Investment Promotion Board (FIPB) rules for its Indian venture Air Asia India.

Source: Money Control

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