Jet to propose elevation of Goyal's children at AGM

Jet Airways will seek shareholders’ nod to elevate promoter Naresh Goyal’s daughter Namrata and son Nivaan at the annual general meeting slated early next month. “It is proposed to re-designate Namrata Goyal and Nivaan Goyal as senior executive and executive (service development) and extend their appointment up to August 2015,” according to the company’s annual report for 2012-13.

While Namrata was inducted as a trainee in the airline in 2010, Nivaan was taken as a management trainee the next year. Goyal’s wife, Anita, is executive vice-president for revenue management and network planning.

According to the report, Namrata, if her elevation is approved, will receive a monthly remuneration of up to Rs 1 lakh. Similarly, the airline has proposed a monthly remuneration of up to Rs 90,000 for Nivaan. Goyal is awaiting a green signal from the Foreign Investment Promotion Board to sell a 24 per cent stake in the company to Abu Dhabi-based Etihad Airways for Rs 2,058 crore. However, the proposed deal has got mired in a controversy, with the finance ministry apprehending that under the present deal structure, the foreign partner would have effective control over the airline, against the prevailing foreign investment norms.