JET'S IN­DE­PEN­DENT DI­REC­TOR RE­SIGNS

Business Standard - - FRONT PAGE - ANEESH PHADNIS

Jet Air­ways in­de­pen­dent di­rec­torVikram Singh Me­hta re­signed

on Mon­day, cit­ing time con­straints and other com­mit­ments. He was a mem­ber of air­line's au­dit com­mit­tee. His res­ig­na­tion comes three days be­fore the fi­nal­i­sa­tion of the com­pany's sec­ond-quar­ter re­sults. Other mem­bers of the au­dit com­mit­tee in­clude Ashok Chawla and Harsh Mo­han, ac­cord­ing to the air­line’s web­site. A se­nior Jet ex­ec­u­tive said Me­hta's res­ig­na­tion would have no im­pact on the re­sult an­nounce­ment and com­mit­tee ap­point­ments could be made. ANEESHPHADNIS re­ports

Jet Air­ways in­de­pen­dent di­rec­tor Vikram Singh Me­hta ( pic­tured) re­signed on Fri­day, cit­ing time con­straints and other com­mit­ments.

Me­hta was also a mem­ber of the air­line’s au­dit com­mit­tee and his res­ig­na­tion comes three days be­fore the fi­nal­i­sa­tion of com­pany's sec­ond quar­ter re­sults.

Other mem­bers of the au­dit com­mit­tee in­clude Ashok Chawla and Harsh Mo­han, ac­cord­ing to the air­line web­site. A se­nior Jet ex­ec­u­tive said Me­hta’s res­ig­na­tion would have no im­pact on the re­sult an­nounce­ment on Mon­day.

The air­line had de­ferred its first quar­ter re­sults for a fort­night as the man­age­ment in­formed the au­dit com­mit­tee it needed more time to fi­nalise ac­counts. The air­line posted ~13.26 bil­lion loss in the first quar­ter and was ex­pected to re­port an­other huge loss in the quar­ter ended Septem­ber 30.

Me­hta, a for­mer chair­man of Shell group of com­pa­nies, had joined the air­line's board in 2016.

“In re­cent months, the call on my time from my other obli­ga­tions has mounted and I find it in­creas­ingly dif­fi­cult to ded­i­cate the time and at­ten­tion re­quired to dis­charge my fidu­ciary re­spon­si­bil­i­ties. It is for this rea­son that I have re­signed,” Me­hta said in a state­ment.

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