Companies

Venkataramanan to attend to ED summons, says Tata Sons

Mumbai | Updated on January 24, 2020 Published on January 24, 2020

Tata Sons on Friday said R Venkataramanan, former non-executive nominee Director of the company, will attend to the summons issued by the Enforcement Directorate. Based on a due enquiry undertaken by Air Asia India, there has been no wrongdoing by him, Tata Sons said in a statement.

The ED has summoned Venkataramanan, who was also Tata Trusts’ managing trustee earlier, to be present before it on February 10, along with relevant documents in connection with a money laundering case. He had quit Tata Trusts last year amid allegations of misuse of I-T exemptions and is under the lens of investigative agencies. He had also resigned from RNT Associates Pvt Ltd, the personal investment vehicle of Tata group patriarch Ratan Tata.

The ED had earlier registered the case on the basis of an FIR lodged by the CBI in April 2018.

“A section of the media has reported that R Venkataramanan had ignored summons by the ED and agencies on three occasions. During the relevant period, Venkataramanan was a non-executive nominee Director of Tata Sons on the board of Air Asia India Limited. Such an allegation is factually incorrect. Venkataramanan has not ignored summons from ED or other agency,” the statement from Tata Sons said.

Published on January 24, 2020
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