Ratan Tata, Venkat had no vested interests at AirAsia India: Tata counsel

Cyrus Mistry had alleged that fraudulent transactions worth Rs 220 mn had taken place at the group's aviation venture

Tata Sons’ counsel in his argument at the National Company Law Tribunal (NCLT) on Thursday strongly refuted allegations by Cyrus Mistry, former chairman of Tata Sons, and his family investment firms, in their petition against Ratan Tata, chairman of Tata Trusts and R Venkatramanan, director, AirAsia India and latter’s involvement in the wrongdoings at the group's aviation venture.

Abhishek Manu Singhvi, Tata Sons’ counsel, also added that there was no record for Cyrus Mistry to make allegations against Venkatramanan and Ratan Tata on being beneficiaries of the Rs 220-million fraud in AirAsia or that Ratan Tata was involved in funding