AirAsia India appoints Tata veteran Deepak Mahendra CFO

New Delhi: AirAsia India, which is under the scanner for alleged forex violations, Tuesday announced appointment of former Tata group official Deepak Mahendra as its new chief financial officer.

The appointment of Mahendra, who has been associated with Tata Power for over eight years, is with immediate effect.

The post of CFO had fallen vacant after the resignation of Ankur Khanna last month against the backdrop of the Enforcement Directorate (ED) probing an alleged forex violation case. He was also questioned by the agency in this connection.

Prior to joining AirAsia India, Mahendra had been chief (corporate finance and accounts) at Tata Power since 2008. A chartered accountant, he has more than three decades of experience in the finance function, AirAsia India said in a release.

Mahendra started his career with Tata Steel.

AirAsia India, a joint venture between the Tatas and Malaysia's AirAsia Berhad, commenced operations in June 2014.

While Tata Sons holds 49 percent, its two directors -- S Ramadorai and R Venkataramanan -- have 0.5 percent and 1.5 percent shareholding, respectively, in the airline. The remaining 49 percent is with AirAsia Investment Ltd.

Ramadorai is also the Chairman of AirAsia India.

The Enforcement Directorate is investigating ousted Tata Group chairman Cyrus Mistry's allegation that fraudulent transactions to the tune of Rs 22 crore, involving non- existent entities in India and Singapore, were carried out at AirAsia India.

AirAsia India flies to 11 destinations with Bengaluru and New Delhi as its two hubs.