Kingfisher appoints independent directors

According clause 49 of Sebis Listing Agreement,at least 50 per cent of the board of directors should comprise of independent directors

Beleaguered Kingfisher Airlines has taken on board three independent directors to comply with the listing norms,a week after its lone independent director walked out citing poor health.

According clause 49 of Sebis Listing Agreement,at least 50 per cent of the board of directors should comprise of independent directors. After the exit of Anil Kumar Ganguly,the Kingfisher board was left with just three directors of whom none were independent directors.

The company,therefore,in order to comply with the Listing Agreement has to appoint three independent directors. The company proactively already taken steps and has obtained the consent of Manmohan Singh Kapur,Lalit Bhasin and Shrikant Ruparel to join the board o directors of the company as independent directors, KFA said in a filing to the BSE.

Kapur,a banker with over 39 years of experience,was the CMD of Vijaya Bank,while Lalit Bhasin is a corporate lawyer and heads law firm Bhasin & Co. Another director,Shrikant Ruparel was the former MD of Kolhapur Sugar Mills.

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