Prosecute Ratan Tata with full vigour: Subramanian Swamy writes to PM Modi

Former Union Cabinet Minister Subramanian Swamy on Friday wrote a letter to the Prime Minister Narendra Modi asking for a probe against Ratan Tata, Interim Chairman, Tata Sons. 

"The commission of offenses are under the IPC Sections 120B (Conspiracy), 403 (Dishonest misappropriation of public funds), 405 (Criminal Breach of trust), 415 (Cheating), prima facie documented in the letter written by Mistry," Swamy wrote in the letter.

On Wednesday, ex-Chairman Cyrus Mistry wrote a letter to the Board of Directors of Tata Group, stating the performance of Tata Sons-owned Air Asia and Vistara Airlines and how they have violated the laws of the country. 

Swamy asked Modi to direct a setting up of an SIT (Special Investigative Team) consisting of the CBI (for criminal offenses committed), Enforcement Directorate (for money laundering), SEBI (for violation of fiduciary and company laws) and prosecute Tata with full 'vigour' and without 'interference' of any government. 

In Mistry's letter, he had mentioned, "Tata Sons board and members and trustees are also aware that in the case of Air Asia, ethical concerns have raised with respect to certain transactions as well as the overall prevailing culture within the organization. A recent forensic investigation revealed fraudulent transaction of Rs 22 crore involving non-existent parties in India and Singapore."

On Thursday, Federation of Indian Airlines (FIA) had moved Supreme Court against Tata Sons and Tony Fernandes-owned Air Asia. 

FIA is seeking revocation of approvals that were granted by the government for functioning this airline. 

FIA said to SC, “Fraud has been committed by Tata-Air Asia. The agreement was in violation of Directorate General of Civil Aviation, Government of India (DGCA) Rules, FDI policy.”