New Delhi: The Civil Aviation Ministry has sent the name of Ajay Singh to the Home Ministry for security clearance before approving his appointment as a director of cash-strapped SpiceJet, where he will take a majority stake.
Singh, the original co-founder of SpiceJet, is in the process of acquiring 58.46 per cent stake in the carrier from the Marans.
The file relating to Singh's security clearance was sent to the Ministry of Home Affairs (MHA) last week, Ministry of Civil Aviation sources said.
Once the Home Ministry's clearance is in place, the Civil Aviation Ministry will give its final approval to Singh's appointment as director, they said.
The board of SpiceJet, last week, approved the proposal to transfer Maran's entire 58.46 per cent stake in SpiceJet to Singh as part of a revival plan, which has already been cleared by the Civil Aviation Ministry.
02/02/15 PTI/Economic Times
Singh, the original co-founder of SpiceJet, is in the process of acquiring 58.46 per cent stake in the carrier from the Marans.
The file relating to Singh's security clearance was sent to the Ministry of Home Affairs (MHA) last week, Ministry of Civil Aviation sources said.
Once the Home Ministry's clearance is in place, the Civil Aviation Ministry will give its final approval to Singh's appointment as director, they said.
The board of SpiceJet, last week, approved the proposal to transfer Maran's entire 58.46 per cent stake in SpiceJet to Singh as part of a revival plan, which has already been cleared by the Civil Aviation Ministry.
02/02/15 PTI/Economic Times
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