KUALA LUMPUR (March 22): AirAsia (India) Ltd (AAI), a 49%-owned associate of AirAsia Bhd, has lodged a police report in India over what it termed as 'irregular personal expense claims and certain company charges' by a 'certain former personnel'. In a filing with Bursa Malaysia today, AirAsia said AAI filed the police complaint with the competent authorities in Bengaluru, Karnataka, India, on Nov 9 last year. AirAsia did not explain why it was only making the disclosure four months after the actual event occurred. Other than AirAsia, AAI is also 49% owned by India's Tata Sons Ltd. In its Oct 28, 2016 issue, FD reported that former Tata Sons' board chairman Cyrus Mistry had revealed that fraudulent transactions amounting to 22 crore rupees (RM13.79 million) involving 'non-existent parties in India and Singapore' have been uncovered in a forensic investigation.

Source: The Edge Markets March 22, 2017 12:45 UTC