Grounded carrier Jet Airways said on Monday its non-executive and non-independent director Nasim Zaidi has quit the board citing personal reasons and time constraints.
Before joining the Jet Airways board in August 2018, Mr Zaidi had served as civil aviation secretary and chief election commissioner.
"This is to inform you that Nasim Zaidi has submitted his resignation as a Non-Executive, Non-Independent Director of the company with effect from April 21 due to personal reasons and constraints of time," Jet Airways informed stock exchanges in regulatory filings.
The airline, which ceased all its operations temporarily last week, is under the management control of a State Bank of India-led consortium of lenders following a debt-restructuring plan approved by its board last month.
Shares in Jet Airways plunged as much as 19.34 per cent on the BSE on Monday. At 11:19 am, the Jet Airways stock traded 11.99 per cent lower at Rs 144.25 apiece on the BSE, underperforming the markets which were down 0.61 per cent.