The 2 main shareholders have zero background in aviation? AirAsia is a major shareholder with a 49% stake and has all the experience required, what more could a new venture airline ask for? The other 2 are just investors with Tata's spokesman saying that they intend to let AirAsia run the show - that is how it should be.
The danger with a new venture in India is not whether the management has the smarts to run the company but whether they can prevent the unions that are so pervasive in Indian airlines from forming. They are company killers and preventing these self-serving cancerous groups from gaining a foothold will be essential. That, together with dealing with the infamous Indian corruption and crooked civil servants is going to be a full time job.
Like the other AirAsia entities, the brains of the organisation will remain in KUL and Jakarta and the Indian AOC will likely be ruled from there, as it should be. It's an interesting model and keen airline watchers around the world will be paying close attention to how this unfolds.
Any idea on routes? Start with domestic I would imagine.
It shouldn't be hard to find crews given Kingfisher's recent demise.