investment from Tail Winds to less than 49 per cent by 2013, under a ten year extension of the deadline.
The issue of the extension of deadline to bring down the foreign stake in the airline was also discussed in the meeting Jet Airways and Etihad had with civil aviation minister Ajit Singh and commerce minister Anand Sharma on Thursday and Finance Minister P Chidambaram today.
ďIf the transfer of shares of an Indian company will be made by an erstwhile OCB to an NRI, it will require compliance with the foreign exchange regulations/guidelines,Ē said Lalit Kumar, partner, J Sagar Associates. Currently, Tail Winds owns 79.99 per cent in Jet Airways. Naresh Goyal, in his personal capacity, owns only 0.01 per cent in the company. Jet Airways shares closed at Rs 622.65 a piece, up 0.09 per cent, on the BSE on Friday.