No-frills carrier SpiceJet today announced the resignation of two of its independent directors, Nicholas Martin Paul and R Ravivenkatesh from its Board.
Both Paul and Ravivenkatesh were appointed to the board by the then promoter Kalanithi Maran.
“Nicholas Martin Paul (Independent Director) and R Ravivenkatesh (Independent Director) has resigned from the company with effect from September 21, 2015,” SpiceJet said in a regulatory filing today.
Singh, the original co-founder, took back the reins of the budget carrier early this year from Marans amid SpiceJet facing turbulent times.
Singh, who exited the airline in 2010, took back its control after acquiring the entire 58.46 per cent stake of Kalanithi Maran and Kal Airways Pvt Ltd in February as part of a revival plan.
The airline’s board of directors had in May this year announced the appointed new majority shareholders — Singh and his wife Shiwani Singh as directors, and Harsha Vardhana Singh as the independent director.