The Central Bureau of Investigation (CBI) registered a case against the AirAsia CEO Tony Fernandes and other directors from the company. This case relates to the breaking of norms by the aviation company to get international flying licenses.
The CBI authorities allege the directors of the aviation company were accused of breaking the 5/20 rule. The 5/20 rule was set up by the Civil Aviation Ministry to ensure safety.
The 5/20 rule means a company needs 5 years of experience and 20 aircrafts to get a license to fly overseas. AirAsia is also accused of violating the Foreign Investment Promotion Board (FIPB) rules.
Apart from Tony Fernandes, the Travel Food owner Sunil Kapoor, AirAsia Director R Venkatraman are mentioned in the CBI report. Director of the Singapore based SNR Trading Rajendra Dubey and Aviation Consultant Deepak Talwar are also mentioned as accused.
The Investigation team are conducting raids at six different locations in Mumbai, Bengaluru and Delhi. The CBI report also mentioned Tony Fernandes for lobbying Government employees for clearances and the removal of the existing 5/20 aviation rule.
