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Consultancy firm EY finds no irregularities in IndiGo's related party transactions, says report

Consultancy firm EY finds no irregularities in IndiGo's related-party transactions, says report

Consultancy firm EY finds no irregularities in IndiGo's related-party transactions, says report
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By CNBC-TV18 Jul 19, 2019 10:03:54 AM IST (Published)

Consultancy firm EY, which reviewed the related-party transactions of InterGlobe Aviation's IndiGo, has not found any major procedural lapses by the company, Business Standard reported.

Consultancy firm EY, which reviewed the related-party transactions of InterGlobe Aviation's IndiGo, has not found any major procedural lapses by the company, Business Standard reported.

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As per EY, all the transactions were done at 'arm's length' and approved by the audit committee, the report said.
In corporate law parlance, a transaction is said to be done at arm's length when a proper tendering process has been followed.
But EY found some transactions that were executed before approval from the audit committee, the report added.
Under the cloud of sparring promoters, InterGlobe Aviation board is scheduled to meet on Friday to consider quarterly financial results and is also likely to discuss differences between the promoters over corporate governance matters.
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