Jet chief off Sahara board
The Government has struck down Naresh Goyal's name from Air Sahara's board for security reasons.india Updated: Jun 16, 2006 09:43 IST
The Government has struck down Jet Airways Chairman Naresh Goyal's name from the revamped board of Air Sahara for security reasons, say sources. The Home Ministry has already granted security clearance to four other Jet Airways officials ? Saroj Datta, Vijay Kelkar, Javed Akhtar and Victoriano P. Dunca -- to join the new board. They are also on the Jet Airways board. Jet Airways had acquired Air Sahara for an enterprise value of about Rs 2,300 crore in January and paid an advance of Rs 500 crore. After the acquisition, Air Sahara sought the permission of the Director General of Civil Aviation (DGCA) to include new members on the board. The Civil Aviation Ministry had forwarded the file to the Home Ministry for security clearance a fortnight ago. When contacted, a Jet Airways spokesperson said, "We are unaware of any such development. The government has already cleared the names of four directors and the clearance of Naresh Goyal is awaited." Director General of Civil Aviation K. Gohain told HT that the security clearance of Naresh Goyal had not been received by DGCA yet. "Until and unless we receive the necessary clearance from the Home Ministry, we cannot take any decision," said Gohain. Sources say the clearance of four other directors has come from the government on the condition that the two airlines would not be merged. Jet has agreed to run Air Sahara as a separate airline but as a wholly-owned subsidiary.
First Published: Jun 16, 2006 09:43 IST