June 14, 2018

A statement from Tata Trusts

Mumbai: A combined meeting of the Trustees of the Tata Trusts was held this afternoon to discuss issues arising from the investigations being carried out by official agencies on matters relating to Air Asia India Limited, a public limited company in which Tata Sons Limited is a 49% shareholder.

The Trustees categorically reiterated that the reported investigations have nothing whatsoever to do with the affairs of any of the Tata Trusts and noted that papers and documents relating to the Trusts were neither seen nor called for by the investigators. The office of Mr. R. Venkataramanan, in his capacity as a Non-Executive Director and a nominee of Tata Sons on the Board of Air Asia India Limited, in the Trust office premises, was visited by the authorities and clarifications sought on some papers relating to Air Asia India, some of which were taken by the authorities.

The Trustees expressed concern that inaccurate and mischievous reports were carried by some media entities to give an impression that the Tata Trusts’ offices were raided by the investigating authorities, which did not take place.

The Trustees reaffirmed their complete trust and continued support to Mr. Venkataramanan under whose executive leadership as Managing Trustee, the Tata Trusts have done, and are continuing to do, outstanding work across India.

Issued by:
Debasis Ray
Tata Trusts
Email: dray@tatatrusts.org
Tel: +919223366824 / (91) 22 61358284