Subramanian Swamy asks PM Narendra Modi to form multi-agency SIT to probe Tatas

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NEW DELHI: BJP MP Subramanian Swamy has demanded constitution of a multi-agency SIT to probe allegations of “certain fraudulent transactions” in Air Asia levelled by Cyrus Mistry following his removal as chairman of the Tata Group.

Swamy, in a letter to Prime Minister Narendra Modi, has said the SIT should comprise officials from CBI, Enforcement Directorate and SEBI as the charges involved a gamut of offences.

The Rajya Sabha MP recalled that he had in an earlier letter to Modi questioned Ratan Tata‘s role as Indian partner in Air Asia and Vistara Airlines “in complete violation” of the laws of the country.

Tata Group stocks performance after Mistry joined

Company Name Price
(Rs)
Change
(from 28-12-12)
% Change
(from 28-12-12)
Tata Metaliks Ltd. 389.50 327.70 530.26
Tata Elxsi Ltd. 1294.85 1065.30 464.08
Voltas Ltd. 386.70 281.60 267.94
Tata Communications Ltd. 635.30 398.45 168.23
Tata Sponge Iron Ltd. 594.35 283.90 91.45
Tata Consultancy Services Ltd. 2398.70 1131.20 89.25
Indian Hotels Company Ltd. 115.45 52.35 82.96
Nelco Ltd. 89.40 38.05 74.10
Tata Motors Ltd. 537.00 226.95 73.20
Tinplate Company of India Ltd. 84.10 31.95 61.27
Tata Chemicals Ltd. 544.65 194.95 55.75
Trent Ltd. 199.40 71.07 55.38
Rallis India Ltd. 219.70 69.45 46.22
Titan Company Ltd. 373.55 92.40 32.87
Tata Investment Corporation Ltd. 587.80 124.15 26.78
TRF Ltd. 278.45 53.80 23.95
Tata Steel Ltd. 405.45 -23.10 -5.39
Tata Coffee Ltd. 128.15 -12.07 -8.60
Tata Global Beverages Ltd. 139.95 -20.50 -12.78
Tata Power Company Ltd. 78.30 -30.95 -28.33
Tata Teleservices (Maharashtra) Ltd. 7.15 -3.57 -33.31

Hot on the heels of Mistry’s ouster alleging fraudulent transactions at AirAsia India, the Aviation Ministry had said all issues would be looked into and “law of the land will have to be followed” in case of any violation.