JET'S INDEPENDENT DIRECTOR RESIGNS

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.