Tata Trusts backs Venkataramanan 

In a complete and total show of support, the trustees of Tata Trusts have reposed their complete faith in managing trustee R Venkataramanan, who is facing a CBI probe in connection with a lobbying and bribery case vis-a-vis AirAsia India.

At a combined meeting of the trustees of the Tata Trusts held on Thursday to discuss issues arising from the investigations, reposed complete faith in Venkataramanan.

AirAsia India is a public limited company in which Tata Sons 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," a Tata Trusts statement said.

"The office of R Venkataramanan, in his capacity as Non-Executive Director and a nominee of Tata Sons on the Board of AirAsia India Limited, in the trust office premises, was visited by the authorities and clarifications sought on some papers relating to AirAsia India, some of which were taken by the authorities," it said.

The Tata Trusts statement noted that 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 Venkataramanan under whose executive leadership as Managing Trustee, the Tata Trusts have done, and are continuing to do, outstanding work across India," it stated.