AirAsia CFO admits lacunae in contract with non-existent parties

The contract made was very 'generic' unlike company's others contract

AirAsia India's chief financial officer (CFO) in his statement to Enforcement Directorate (ED) admitted certain lacunae in agreement entered into with Singapore-based HNR Trading for liaising with the government and Link Media Immigration Services Pvt Ltd for media services. 

The Enforcement Directorate, which is probing the AirAsia in connection with alleged violations of Rs 22 crore under Foreign Exchange Management Act (FEMA), recorded the CFO's statement last month.

According to ED sources, during his interrogation, he (CFO) admitted that the airlines agreement with the said parties or vendors were not in line with company's contract format.

"The contract made was very