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The low-cost carrier promoted by AirAsia's Tony Fernandes and the Tata Group had moved the court to recover the amount that Chandilya had allegedly siphoned off at 18 percent interest.
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The Enforcement Directorate has summoned former AirAsia India CEO and MD Mittu Chandilya in connection with a FEMA probe.
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AirAsia India today appointed Tata group veteran Deepak Mahendra as its new chief financial officer with immediate effect.
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Telestra Tradeplace holds nearly 10 per cent stake in the low-cost airline. While Tata Sons would buy 7.94 per cent shareholding, the remaining stake would be purchased by the carrier's two directors -- S Ramadorai and R Venkataramanan, in their individual capacity.
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Amar Abrol will replace Chandilya, who stays on board till April 2016, as the CEO of AirAsia India, sources tell CNBC-TV18.
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Sources say Chandilya had been unhappy with excessive micromanagement by its Malaysian parent.
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CNBC-TV18's Emerging India Awards in partnership with ICICI Bank recognises some stellar small and medium enterprises (SMEs) and their contribution to the Indian economy.
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The government's draft civil aviation policy released today contains several positives such as providing several incentives to encourage aircraft maintenance, repair and operations (MRO) work in India as well as its focus on boosting regional connectivity, says AirAsia India chief executive Mittu Chandilya.
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AirAsia India, which has recently inducted the sixth aircraft in its fleet, would now operate three daily flights on the Delhi-Goa route, up from two flights a day, while the frequency on the Delhi-Guwahati route would go up to two from current one, as part of the winter operations.
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While specific details could not be immediately ascertained, Tata Sons is likely to acquire the additional stake from Arun Bhatia's Telestra Tradeplace which currently holds 21 percent stake in AirAsia India.
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The no-frills carrier, which has put on hold its fleet expansion plan amid stiff competition, is also likely to name a new Chief Financial Officer (CFO). The incumbent CFO Vijay Gopalan has put in papers sometime back and the airlines is in the process of finding a suitable replacement for him.
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The 5/20 rule pertains to the government allowing Indian carriers to complete five years of domestic operations and have a fleet of 20 aircraft before allowing them to fly international.
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In an interview with CNBC-TV18‘s Malvika Jain, AirAsia India CEO Mittu Chandilya spoke about the company‘s expansion plans, business environment and why it chose to select Delhi and Bangalore and not Mumbai as its flying hub.
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In an interaction with CNBC-TV18‘s Kritika Saxena, CEO Mittu Chandilya discussed the company‘s strategy as well as whether it will start operations from Mumbai.
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In an interview to CNBC-TV18‘s Shereen Bhan, the board of AirAsia, including founder & group CEO Tony Fernandes, AirAsia India CEO Mittu Chandilya and Non-Executive Chairman S Ramodarai discuss on the new rules and ease of doing business in India.
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As part of this mega sale offer, AirAsia has rolled out fares as low as Rs 3,399 for a Visakhapatnam-Kuala Lumpur and Rs 3,699 for travel on Kochi-Kuala Lumpur sector, the airline said here.
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The livery of AirAsia India's fourth aircraft dons an image of JRD Tata with a Puss Moth, the aircraft he flew on October 15, 1932, leading to the birth of Tata Airlines and starting civil aviation in the sub-continent.
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As per the proposal by the aviation ministry, new airlines will be barred from flying to Gulf, Southeast Asia. For flying to these destinations, new airlines will need 600 DFCs (Digital Flying Credits).
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The company will have five aircrafts within the next six weeks and then after that they will again look at what the industry looks like and take a view on how the new added destinations are doing, said Airasia India's CEO Mittu Chandilya.
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In a chat with CNBC-TV18's Farah Bookwala-Vhora, Airasia India chief Mittu Chandiliya discussed plans to ramp up fleet and the impact of the regulatory & policy uncertainty on its expansion plans.
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Meet Formula One driver Nico Rosberg as he talks all things cars and speed.
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AirAsia India n Wednesday appointed Amit Singh as its director of flight operations, while G Sampath was chosen as the head of engineering.
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Mittu Chandilya, AirAsia India's CEO clarified to media in Chennai that the airline is awaiting necessary approvals and the launch may be pushed to year-end. It is prudent to wait then hurry up the launch, he said.
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AirAsia's big boss and the new India CEO tell us why India's next airline will change the industry
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Ratan Tata, AirAsia chiefTony Fernandes met Civil Aviation Minister Ajit Singh to brief him about the developments associated with the launch of the budget airline- AirAsia India.
