Mahindra Group's Vice-Chairman and Managing Director, Mr Anand Mahindra's resignation as an independent director on Air India's board of directors has been accepted, official sources said on Saturday.
Late last month, Mr Mahindra had sent his resignation to the Civil Aviation Minister, Mr Vayalar Ravi, citing “conflict of interest” as the reason for resigning. He was among the four people — along with Mr Harsh Neotia, Chairman of Ambuja Realty Development, Dr Amit Mitra, Secretary-General of FICCI, and former Air Chief Marshal Fali Homi Major — inducted into Air India's board during Mr Praful Patel's tenure.
In his resignation letter, Mr Mahindra had said Mahindra & Mahindra Ltd recently held discussions with international aerospace corporations to help the company get opportunities to produce and supply aerospace components.
Any plans of Mahindra & Mahindra Ltd to supply components to major suppliers from where Air India sources its aircraft would cause a conflict of interest. As a result, Mr Mahindra offered to step down from the board.
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