ED issues summons against AirAsia for FEMA violation of Rs22crore
Mumbai,Dec7:The Enforcement Directorate (ED) in Mumbai has issued a summon to AirAsia, asking its officials to appear before it next week.
The ED will primarily investigate the allegation of fraudulent transactions worth Rs 22 crore, levelled by Cyrus Mistry, under Section 3 of the Foreign Exchange Management Act (FEMA), 1999.
In his first email to Tata Sons after his unceremonious ouster as chairman of the salt-to-software conglomerate, Mistry had alleged that “a recent forensic investigation revealed fraudulent transactions of Rs 22 crore involving non-existent parties in India and Singapore”.
A Senior ED official said that the allegation made by Cyrus Mistry in writing, which was published by various newspapers/media across the country, has prepared the ground for “examination” of the case, suo motu under FEMA provisions.