Kalanidhi Maran transfers ownership of SpiceJet to Ajay Singh Thursday Jan 29,2015

 

The Board of Directors of SpiceJet Ltd at their meeting held last night had approved the sale and transfer the ownership of the airline company to co-founder Ajay Singh.

With this SpiceJet has legally changed hands though AjaySingh who is backed by financial investors has been running the airline for nearly a month.

The share sale and purchase agreement between the promoters and Ajay Singh was signed on Thursday Jan 29,2015

Kalanithi Maran of Sun group and his company Kal Airways have sold all their shares amounting to 58.46 per cent stake in the airline.

The board had also decided to increase the authorize capital of the company to Rs 2000 crore.

With the change in ownership Kalanidhi Maran, Kavery Maran and S Natrajhen have resigned from the board with immediate effect.

The registered office of the airline has been shifted from Tamil Nadu to Delhi