New Delhi/Mumbai: Abu Dhabi's Etihad has made significant concessions in favour of its Indian partner, NareshGoyal, in an effort to persuade the Indian authorities to clear its $600-million investment in Jet AirwaysBSE 4.22 %.
Etihad has agreed to vest Goyal, the founder chairman of Jet, with the right to deliver a "casting vote on any matter", in addition to reducing its representation from three to two on the 12-member board of India's largest private airline by revenues.
ET reviewed the latest set of amendments to a slew of agreements between the two airlines that was sent to the Department of Industrial Policy and Promotion on July 25, ahead of a crucial meeting of the Foreign Investment Promotion Board (FIPB) on Monday.
29/07/13 Anandita Singh Mankotia & Satish John/Economic Times
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Etihad has agreed to vest Goyal, the founder chairman of Jet, with the right to deliver a "casting vote on any matter", in addition to reducing its representation from three to two on the 12-member board of India's largest private airline by revenues.
ET reviewed the latest set of amendments to a slew of agreements between the two airlines that was sent to the Department of Industrial Policy and Promotion on July 25, ahead of a crucial meeting of the Foreign Investment Promotion Board (FIPB) on Monday.
29/07/13 Anandita Singh Mankotia & Satish John/Economic Times
