Sun Group chief Kalanidhi Maran and his wife Kavery Kalanidhi have resigned from the board of Kal Airways, a promoter holding company of SpiceJet Ltd. The aviation company SpiceJet Ltd. that operates over 300 flights, however, clarified that Mr Kalanidhi Maran continues to serve on its board.
Analysts are unable to pinpoint the strategy behind Mr Maran’s latest move while pointing out that he had also earlier stepped down after two decades as managing director of flagship company Sun TV to become its executive chairman and promoting CEO K.Vijaykumar as MD.
Some analysts have speculated that his recent move in Sun TV may have had something to do with the fact that he and his brother Dayanidhi Maran, former union minister, have been under investigation by the CBI on allegations concerning Aircel’s former owner C. Sivasankaran who was reportedly forced to sell his company to Maxis founder T. Anandakrishnan who was later to invest in Sun DTH.