MakeMyTrip co-founder and president Ashish Kashyap resigns

Kashyap's resignation is effective from September 30

Online travel company MakeMyTrip on Wednesday announced the resignation of its co-founder and President Ashish Kashyap with effect from September 30, 2017.

"The MakeMyTrip Board has accepted the resignation... MakeMyTrip (India) Pvt Limited and Ibibo Group Private Limited have entered into a separation agreement with Kashyap," the company said in a statement.

"This agreement provides among other things, final settlement of dues and benefits to Kashyap and certain obligations on Kashyap, including non-solicitation and non-competition which shall continue until September 30, 2019."