Second director to be appointed at Kingfisher

Victoria
By Victoria August 6, 2014 15:21

Second director to be appointed at Kingfisher

The Indian Ministry of Civil Aviation has reported that the Ministry of Home Affairs has given security clearance to advocate Lalit Bhasin in order to appoint Bhasin as a director.

The request for security clearance has been pending since March 2012.

The High Court also set aside the respective orders of the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), imposing penalties upon the airline for non-compliance of the conditions of its listing agreement.

The airline stated it had received letters from the BSE and NSE in June 2014, which stated that Kingfisher is liable to pay fines of Rs 61,798 and Rs 84,270 for non-compliance of the original listing agreement.

Kingfisher had previously claimed that it has not been able to constitute a Board of Directors or submit its quarterly financial results for Q1 2014, as its application seeking clearance to appoint Bhasin had been pending.

Victoria
By Victoria August 6, 2014 15:21