InterGlobe Aviation Chairman M Devadas Mallya passes away in Delhi; was ailing for two years
Mallya had served as Chairman and Managing Director of Bank of Baroda and Bank of Maharashtra
New Delhi: InterGlobe Aviation, which operates the country’s largest airline IndiGo, Sunday said its Chairman Mangalore Devadas Mallya passed away in the morning. He was suffering from cancer for the past two years, media reports said. He was 65 years-old.
In a filing to the BSE, InterGlobe Aviation informed about the “sad and sudden demise of Devadas Mallya Mangalore, Chairman and Non-Executive Independent Director of the company, today morning“.
He had served as Chairman and Managing Director of Bank of Baroda and Bank of Maharashtra.
Mallya passed the Bachelor of Engineering degree with distinction from Karnataka Regional Engineering College, Suratkal. He completed a post-graduation Diploma in Management from Indian Institute of Science, Bangalore. Shri. He had a wide exposure to management education and had undergone training programmes in leading academic institutes like Indian Institute of Management (IIM), Ahmedabad, National Institute of Bank Management (NIBM), Pune etc.
He started his banking career from Corporation Bank in August 1976. In a career spanning over 36 years, he acquired a rich experience in banking at various positions and assignments. He was seen as the top contender for the role of non-executive Chairman of ICICI Bank.
Mallya was actively involved in lending to the rural sector during his long association with the banks where he was serving, and also as a representative of the banks as the Chairman of Indian Banks Association (IBA) interacting with the Government and the RBI. He engaged with the Government as IBA Chairman in consolidation of Regional Rural Banks (RRBs), their capitalisation, technology upgradation, etc.
Mallya’s sudden demise is an irreparable loss to the company and all the directors and employees of the company convey their deepest condolences to his family, it added.
Other board members of InterGlobe Aviation include promoters Rakesh Gangwal and Rahul Bhatia, non-executive independent director Anupam Khanna and non-executive director Rohini Bhatia.
--With PTI inputs
The new process will initially implemented in three cities – Bengaluru, Mumbai and Delhi. The airline plans to expand to all cities gradually
In a major protocol breach at Delhi airport, a car belonging to Go First airline stopped under an IndiGo aircraft on Tuesday, narrowly avoiding collision with the plane's nose wheel.
The decision to remove air fare caps has been taken after careful analysis of daily demand and prices of Air Turbine Fuel. Stabilisation has set in and sector is inclined for growth in domestic traffic in near future, said Aviation Minister Jyotiraditya Scindia