Shareholders clear Rs 15 crore annual pay for SpiceJet MD Ajay Singh

Source: The Hitavada      Date: 28 Dec 2016 08:13:54


Dec 27,


SPICEJET shareholders have approved paying upto Rs 15 crore as annual remuneration to Managing Director, Ajay Singh as the no-frills airline continued making profits for seven straight quarters.

Besides, shareholders have cleared the appointment of Anurag Bhargava and Harsha Vardhana Singh as independent directors of the company. These proposals were among those approved during the AGM of the airline held on Monday.

In a filing to the BSE, SpiceJet Tuesday said various resolutions including the payment of remuneration to Singh had been approved with requisite majority. Singh, who has been instrumental in reviving the fortunes of SpiceJet after taking back the reins in January 2015, had decided not to take salary till the airline turned profitable.