Saturday, August 11, 2018

Jet Airways denies reports of audit committee chief resigning, says his term ended

Clearing the air over the controversy surrounding the audit committee of Jet Airways not recommending its April-June result to the board, a spokesperson for airline said that the director of its audit committee S Vishwanathan, did not resign, but his term of office came to an end.

The Naresh Goyal founded company said that Vishwanathan retired as the director and consequently as chairman of the audit committee, after serving a full term in office.

Reports of Vishwanathan quitting added to confusion after the company indefinitely postponed the announcement of its June quarter results on August 9.

In a late night announcement, Jet Airways said in a BSE filing, "It may be noted that the Audit Committee did not recommend the said financial results to the Board for its approval, pending closure of certain matters."
10/08/18 Moneycontrol/Forbes India