Motilal Oswal
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Motilal Oswal
Aviation

IndiGo promoter dispute: Rahul Bhatia counters Rakesh Gangwal's Sebi letter, says shareholders' agreement complies with requirements

Updated : July 12, 2019 06:15 PM IST

IndiGo parent InterGlobe Aviation has said that the airline's shareholders’ agreement was negotiated in 2006 and amended twice in 2015 as a precursor to the company's IPO to comply with statutory requirements.
InterGlobe's response comes in the wake of IndiGo co-founder Rakesh Gangwal raising the issue of suspect corporate governance issues at the parent company in a letter to Sebi.
On July 8, the differences between the co-founders, Gangwal and Bhatia, escalated after former wrote to Sebi alleging governance lapses.
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