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IndiGo's Damodaran says no probe underway over related-party transactions

Updated : August 31, 2019 12:30 PM IST

In the latest statement made by Gangwal, there were indications of some truce as Gangwal said that the company board has approved a new policy for related-party transactions.
The new policy mandates competitive bidding for all such transactions between the airline and its parent InterGlobe Enterprises, several people aware of the development told CNBC-TV18.
The new related-party transaction policy can only be amended or diluted if the proposal to do so will have the support of all four independent directors of the board.
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