JET AIRWAYS (INDIA) LIMITED

Jet Airways (India) Ltd is an Indian international airline based on Mumbai, India which, on 17 April 2019
suspended all flight operations. Jet Airways was the largest commercial passenger airline in India with a
passenger market share of 22.6%. with the growing competition from the likes of SpiceJet and IndiGo, lowering
ticket fares in the following years resulted in steep financial losses. As of now the company is undergoing
insolvency proceedings under Insolvency and Bankruptcy Code.

BOARD OF DIRECTORS

Compositions:
All the meetings conducted by the company did not exceed the time of one hundred and twenty days gap
between the two companies.
As per the requirements of Clause 49, none of the Directors is a Member of more than ten committees or
Chairman of more than five committees across all public companies in which they are Directors

YEAR COMPOSITION NO. OF MEETINGS HELD

2013-14 7 Directors 6
1 Director and 6 Non-executive
Manager Directors
2014-15 8 Directors 6
1 Director and 7 Non-executive
Manager Directors
2015-16 10 Directors 5
9 Non-executive 1 whole time
directors (5 director
independent
directors)
2016-17 11 Directors 6
10 Non- 1 whole time
executive director
directors (6
independent
directors)
2017-18 9 Directors 4
8 Non-executive 1 whole time
directors (4 director
independent
directors)

Board Training and Induction

At the time of appointing an Independent Director, a formal letter of appointment is given which, inter alia,
explains the role, function, duties and responsibilities expected of him as a Director of the Company.

Rules for Board of Directors

 All the Directors of the Company, except the Chairman, are liable to retire by rotation. There is no
relationship between the Directors inter-se.
 As per the requirements of Clause 49, none of the Directors is a Member of more than ten committees
or Chairman of more than five committees across all public companies in which they are Directors.
 The Company shall proceed with the appointment of the independent director upon receipt of Security
Clearance.
 The board of directors should meet this frequently that the gap between any two Meetings did not
exceed four months.

DISCLOSURES

2014-17
  Details of related party transactions as per requirement of Accounting Standard 18 are disclosed in
Notes to the financial statements for the year ended 31st March, 2014. A statement of these transactions
was also placed before the Audit Committee and the Board, from time to time.
 With regard to matters related to capital markets, there have been no instances of non-compliance by
the Company, penalties or strictures imposed on the Company by the Stock Exchanges, Securities and
Exchange Board of India or any statutory authority on any matter related to capital markets during the
last three years.
 Directors and employees are encouraged to report evidence of illegal or unethical behaviour in a
responsible and confidential manner to the Chairman of the Board or the Chairman of the Audit
Committee or alternatively may report to their superiors or Head-Human Resources.
 The Company has not entered into any materially significant transaction with the Promoters, Directors
or the Management, their subsidiaries or relatives, etc. that may have a potential conflict with the
interests of the Company at large.
 CEO / CFO Certification: A Certificate from the Chief Executive Officer and Acting Chief Financial
Officer on reporting and the internal controls over financial reporting for the financial year
 Risk Management: The Company has laid down procedures to inform the Board about the Risk
Assessment and Minimization, which are periodically reviewed by the Audit Committee and the Board.
 Disclosure of Accounting Treatment: Your Company has followed all applicable Accounting
Standards while preparing the financial statements.
 Code of Conduct for Prevention of Insider Trading: The Company has adopted the Code of
Conduct for Prevention of Insider Trading (the code). All Directors and employees in the Vice
President grade & above and other Designated Employees who are privy to unpublished price sensitive
information of the Company are governed by this Code.

2017-18
Disclosures with respect to Demat Suspense Account / Unclaimed Suspense Account :
At the time of the Company’s Initial Public Offer (IPO) in 2005, there were instances where the Shares allotted
could not be credited to the demat accounts of the allottees due to various reasons, for e.g. invalid demat
account, incorrect DP ID/Client ID, etc. Consequently, the said Shares were transferred to an Escrow Account.

SHAREHOLDER’S INFORMATION

I. Annual General Meeting

YEAR DATE OF MEETING
2013-14 11th August 2014
2014-15 14th August 2015
2015-16 27th December 2016
2016-17 11th September 2017
2017-18 9th August 2018

II. Average Market Share Price

YEAR BSE NSE
2013-14 410.24 409.92
2014-15 356.95 357.34
2015-16 512.79 513.2
2016-17 543.79 534.77
2017-18 680.01 680.37

III. Shareholder’s Data

YEAR NO. OF SHAREHOLDERS NO. OF SHARES
2013-14 134,158 113,597,383
NSDL*- CDSL**- Physical
108,794,479 4,802,12 Form-
7 777
2014-15 98,512 113,597,383
NSDL- CDSL- Physical
110,979,553 2,617,39 Form-
9 431
2015-16 105,504 113,597,383
NSDL- CDSL- Physical
110,716,707 2,880,35 Form-
1 325
2016-17 111,374 113,597,383
NSDL- CDSL- Physical
110,205,920 3,391,13 Form-
8 325
2017-18 95,808 113,597,383
NSDL- CDSL- Physical
111,078,958 2,518,10 Form-
0 325
*NSDL- National Securities Depository Limited
**CDSL- Central Depository Service (India) Limited