The axed chairman of Tata Sons has charged that there was an element of fraud in the conglomerate’s joint-venture deal in the setting up of AirAsia India.
Cyrus P Mistry was removed without notice as chairman of Tata Sons on Monday, and it has started a bitter war between him and interim chairman Ratan Tata, PTI reported.
Mistry has also alleged that due to Rata Tata’s passion for aviation, Tata Sons board increased capital infusion in the aviation sector at multiple levels of the initial commitment.
Tata Sons holds a majority stake in AirAsia India which started its air operations in June 2014.
