Ajay Singh takes over as promoter of Spicejet, Kalanithi Maran exits

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Updated: February 24, 2015 10:46:31 AM

Spicejet Ltd has informed BSE that pursuant to the share sale and Purchase Agreement...

SpiceJet, SpiceJet crisis, SpiceJet Kalanithi MaranAjay Singh has become the promoter of the company and Kalanithi Maran and Kal Airways have ceased to be promoters.

Spicejet Ltd has informed BSE that pursuant to the share sale and Purchase Agreement dated January 29, 2015 between the company, Kalanithi Maran, Kal Airways Private Limited and Ajay Singh, the entire shareholding of Maran and Kal Airways (the existing Promoters) aggregating to 350,428,758 equity shares (58.46%) has been transferred to Singh on February 23, 2015.

Consequently, Ajay Singh has become the promoter of the company and Kalanithi Maran and Kal Airways have ceased to be promoters.

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