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Saturday
September 2018
10:47 PM IST
News Headlines
Chekka Chivantha Vaanam: Second trailer released        Golden Globe Race: Indian Navy Officer Abhilash Tomy injured; INS Satpura dispatched for rescue        India Calls Off Talks With Pak, Says "Imran Khan's True Face Exposed"        Indian govt wanted Reliance for Rafale, we didn't have a choice: Ex-French prez Hollande        Wreckage of Captain Cook’s ship found off US coast        Death toll reaches 136 in Tanzania ferry disaster with scores missing        Ravindra Jadeja, Rohit Sharma take India to comprehensive 7-wicket win        Naomi Osaka Eases into WTA Tokyo Event Semi-final        Let the boundaries go away: Pakistani youth sings Jana Gana Mana with full respect        Three kidnapped cops killed by terrorists in Jammu and Kashmir        Freak penne trending with dislikes and trolls        Kannur International Airport: Kerala to be the first state with four international airports        Kim, Moon join hands on peak of sacred North Korean volcano        Birthday boy Rashid stars in Afghanistan's 136-run win against Bangladesh        Shahbaz Nadeem claims eight wickets; breaks List A world record        CAT 2018: Registration extended to Sept 26; Admit card to Release on Oct 24        BAI distributes 1.6 crore to state Association        Rodrigues, Yadav help Indian women take 1-0 lead in T20 series        Sensex recovers over 100 points on value-buying, global cues        Deepak Kapoor Appointed the new Chairperson of Save the Children        
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Business News
In AirAsia Case, CBI To Probe Role Of 2 Former Ministers
 
(New Delhi, May 29, 2018):The CBI would probe the role of two former ministers in the UPA-2 government for helping AirAsia in getting international licence and Foreign Investment Promotion Board or FIPB clearances. The Central Bureau of Investigation or CBI claims that bribes were paid to get rules changed and to obtain licences.

The probe agency, in its five-page FIR or complaint, has named 10 accused, including Group CEO of AirAsia Tony Fernandes and Air Asia Director and Tata Trusts Managing Trustee R Venkatraman for allegedly trying to manipulate government policies through corrupt means to get an international licence for its Indian venture Air Asia India Limited or AAIL.

The CBI has also named Rajender Dubey - Director of Singapore-based HNR Trading Pte Ltd, Sunil Kapur, Chairman Total Food Services, Mumbai and Deepak Talwar, Principal and Founder DTA Consulting, New Delhi and the company HNR Trading as alleged lobbyists who used their influence to get the 5/20 rule relaxed "before General Elections of 2014".

It is alleged that Mr Dubey was instrumental in seeking appointments and facilitating meetings for AAIL officials with officials in the ministry for getting clearances. The CBI FIR said that Mr Kapur, in the month of December 2014 at the coffee shop in the Four Seasons, Mumbai Hotel, along with deputy group CEO of AirAsia Bo Lingam, handed over a closed packet containing Rs. 50 lakh cash to one Sriram, which was given by Bo Lingam to facilitate the removal of the 5/20 rule. In return, the catering contract for the airlines was given to Mr Kapur as "quid pro quo", it has alleged.

The 5/20 rule, which came into effect in 2004, stipulated that a carrier needs to be in operation for five years and possess 20 aircraft to become eligible to fly abroad.

The FIR states that on February 27, 2014, a "secret" cabinet note was moved to do away with clause 5/20 rule, and in March the ministry further moved another note but the cabinet could not give a go-ahead as elections were already notified by the Election Commission on March5, 2014.

The NDA government amended the rule in June 2016, removing the five-year operation clause, though the CBI FIR does not make it clear whether it says the policy change was effected through corrupt practices.

The crime period mentioned in the FIR is from 2013-2016. "AirAsia applied for licences in 2013 and by May 2014 they got air operating permit", a senior CBI official told NDTV.

According to him, the bribe money was paid before general elections 2014. Deepak Talwar got Rs. 17 lakh and Rajendra Dubey Rs. 12.28 crores as consultancy charges. "We are now probing the money trail further", he added.

It is alleged that next year AAIL remitted about Rs. 12.28 crores to HNR Trading Pte. Ltd. of Mr Dubey for a "sham contract" on the basis of a bogus agreement on plain paper. This money was allegedly utilized for paying a bribe to unknown public servants of and others for securing a permit for international operations through Mr Talwar and Mr Kapur who acted as lobbying agents, the FIR said.

According to the Foreign Direct Investment or FDI policy between 2013-2014, foreign airlines were allowed to own only 49 per cent shares in domestic airlines but effective management control must remain with the Indian partner, the agency said.

The CBI FIR also names "unknown public servants" of the Civil Aviation Ministry, the then Foreign Investment Promotion Board, R. Venkataramanan, Director AirAsia, the AirAsiaGroup Deputy CEO T. Kanagalingam alias Bo Lingam.

In a statement later in the evening, AirAsia refuted all allegations. "AirAsia India refutes any wrongdoing and is cooperating with all regulators and agencies to present the correct facts", the company's director Shuva Mandal said in a statement. "In November 2016, AirAsia India had initiated criminal charges against its ex-CEO and had also commenced civil proceedings in Bangalore for such irregularities. We hope to bring early resolution to all such issues", it added.


Sensex recovers over 100 points on value-buying, global cues
Deepak Kapoor Appointed the new Chairperson of Save the Children
RCom to exit telecom fully to focus on realty: Ambani
Petrol, diesel rates scale new highs
Adani Capital to raise Rs 1,000 cr in growth capital in FY19
Vijaya Bank, Dena Bank, BoB to merge: Govt
Air India utilising just 21 of 27 Dreamliners for daily ops
RBI submitted a list of high profile fraud cases to PMO: Rajan
VU 100-inch 4K HDR smart TV launched in India for Rs 20 Lakh
US dollar ends higher against rupee
Gadkari pitches for alternate fuels; says govt not against petrol, diesel
Air India To Get Rs. 2,100 Crore From Government: Report
SBI hikes benchmark lending rate by 0.2 pc
PM launches India Post Payments Bank; postman to deliver doorstep banking services
IBA elects PNB's Sunil Mehta as chairman
Circular Trades: Sebi imposes fine of Rs 16 lakh on two individuals
India expected to surpass Britain to become world's 5th largest economy next yr: FM
DeMo led to more tax collection, higher growth: Jaitley
Company director sent to 6 months jail for TDS default
Petrol, diesel at new high; govt hopes it is temporary
KERALA NEWS
Kannur International Airport: Kerala to be the first state with four international airports
 Malappuram: With Kannur International Airport becoming operational, Kerala will be the first state i  
Bar bribery case: Court dismisses the vigilance report
State Kalolsavam to be held in December
Actor Captain Raju passes away at 68
INTERNATIONAL NEWS
Wreckage of Captain Cook’s ship found off US coast
 (Sydney, Sep 21, 2018):The Endeavour set off from England in 1768 and traversed a world that
Death toll reaches 136 in Tanzania ferry disaster with scores missing
Kim, Moon join hands on peak of sacred North Korean volcano
Palestinian schools strive to modernize classrooms
NATIONAL NEWS
India Calls Off Talks With Pak, Says "Imran Khan's True Face Exposed"
 (New Delhi, Sep 21, 2018):Within 24 hours of announcing that the Indian and Pakistani foreign
Indian govt wanted Reliance for Rafale, we didn't have a choice: Ex-French prez Hollande
Let the boundaries go away: Pakistani youth sings Jana Gana Mana with full respect
Three kidnapped cops killed by terrorists in Jammu and Kashmir
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