Spicejet on Thursday said that the airline has appointed promoter Ajay Singh's wife Shivani Singh on its board. There had been speculation in the market that the Spicejet promoter's wife may be brought on board to comply with Securities and Exchange Board of India's (Sebi) norm for listed companies to have at least one woman director.
SpiceJet becomes the second domestic carrier to have the owner's spouse holding a board position, after Jet Airways chief Naresh Goyal's wife Anita Goyal.
Even after the appointed, SpiceJet would have to pay a penalty of Rs 50,000 as the deadline to comply with woman director norm ended on March 31.
Among the major domestic carriers, only SpiceJet and Jet Airways are listed on the bourses.
Mr Singh and his wife were appointed directors while Harsha Vardhana Singh, adjunct professor, Columbia University was appointed an independent director, SpiceJet announced after its board meeting on Thursday.
"Further, Mr. Ajay Singh has been designated as the managing director and chairman of the board of the company. Mr. Singh will not draw any remuneration for the executive functions to be performed by him," SpiceJet said.
(With PTI inputs)
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