3 new independent directors on Kingfisher board

March 28, 2012 11:10 pm | Updated 11:10 pm IST - MUMBAI:

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 condition.

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

“The company, therefore, to comply with the Clause 49 of the SEBI Listing Agreement, already taken steps and has obtained the consent of Manmohan Singh Kapur, Lalit Bhasin and Shrikant Ruparel to join the board.”

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