Motilal Oswal
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Motilal Oswal
Aviation

EXCLUSIVE: IndiGo promoter dispute: co-founder Rakesh Gangwal seeks Prime Minister Modi’s intervention, says he doesn’t want control and is not looking to sell

Updated : July 12, 2019 08:25 PM IST

Rakesh Gangwal said the PM’s mediation would send an important message to other errant businesses that India has changed and his regime is not going to tolerate such governance lapses, especially in critical companies.
InterGlobe shares closed flat at Rs 1,354 while those of competitor SpiceJet rose 3.7 percent at Rs 124.5 on Friday.
Gangwal said he is not looking to gain control of InterGlobe Aviation, but he said he believes that it is important that no one group or individual or promoter should have such significant control over a critical infrastructure as the airline.
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