Meleveetil Damodaran joins IndiGo as Non-Independent Director; stock rises

18 Jul 2022 , 01:16 PM

InterGlobe Aviation Limited’s (IndiGo) Board of Directors (Board) has approved the appointment of Meleveetil Damodaran as Non-Independent Non-Executive Director, subject to approval by the Company’s Members.

Meleveetil Damodaran IAS (Retd.), a Governance Consultant, Advisor, Mentor, and Coach, has previously worked with the Union and State Governments of India, regulatory bodies, investment institutions, banks, development financial institutions, and the private sector.

From February 2005 to February 2008, he served as Chairman of the Securities and Exchange Board of India (SEBI). He was the driving force behind the highly successful and transformative restructuring efforts at Unit Trust of India (UTI) and the Industrial Development Bank of India (IDBI).

During his time at SEBI, he was elected Chairman of the International Organization of Securities Commissions’ (IOSCO) Emerging Markets Committee (EMC).

He received honors in Economics and Law from the Universities of Madras and Delhi, respectively.

From January 24, 2019, to May 3, 2022, he served as an Independent Director and Chairman of IndiGo.

At around 1.18 PM, Interglobe Aviation was trading at Rs1,794.30 up by 0.59% from its previous closing of Rs1,783.70 on the BSE. The scrip touched intraday high and low of Rs1,808.20 and Rs1,746.50 respectively.