New Delhi: Decks have been cleared for appointment of a second director to the board of the ailing Kingfisher Airlines which currently has only Vijay Mallya at the helm, the Centre today informed the Delhi High Court.
The Ministry of Civil Aviation told a bench of justice Vibhu Bakhru that the Ministry of Home Affairs has given security clearance to advocate Lalit Bhasin in order to appoint him as a director. Kingfisher had moved the high court saying its March 2012 plea seeking security clearance for Bhasin has been pending, subsequent to which the Centre was asked why no decision had been taken on the airline's application.
In view of the submission made by the Centre, the court disposed of the plea of the airline. It 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 the listing agreement.
05/08/14 PTI/Economic Times
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The Ministry of Civil Aviation told a bench of justice Vibhu Bakhru that the Ministry of Home Affairs has given security clearance to advocate Lalit Bhasin in order to appoint him as a director. Kingfisher had moved the high court saying its March 2012 plea seeking security clearance for Bhasin has been pending, subsequent to which the Centre was asked why no decision had been taken on the airline's application.
In view of the submission made by the Centre, the court disposed of the plea of the airline. It 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 the listing agreement.
05/08/14 PTI/Economic Times
