Another director on Jet Airways’ board resigns

With his resignation, Jet Airways' board now only has three directors in place — Robin Kamark, Ashok Chawla and Sharad Sharma

Mumbai: A director on the board of debt-ridden Jet Airways, Gaurang Shetty, resigned from the board and the company, citing personal reasons. Shetty is the third director on the airline's board to have resigned in the last month. With his resignation, Jet Airways' board now only has three directors in place — Robin Kamark, Ashok Chawla and Sharad Sharma.

Resignation effective from April 23

In a filing to the exchanges, Jet Airways said that the resignation was effective from April 23 and had been tendered due to personal reasons. Shetty had served the airline in various capacities for the last several years.

It added that Shetty had resigned with immediate effect, with a request to waive off the notice period. The board, however, asked him to continue serving at least till the end of his appointment, which is May 23, but later approved his resignation on May 9 with retrospective effect from April 23, the filing said.

Who are the other two directors who quit?

Independent director Rajshree Pathy and former aviation secretary and chief election commissioner Nasim Zaidi were the other two directors who had resigned from their posts last month. Zaidi was a non-executive director on the board.

After reeling under a grave financial crisis for about a year, Jet suspended operations on April 17. It is now waiting to get bids from investors, the deadline for which expires on Friday.