This article is more than 1 year old.

Gangwal-Bhatia fight reaches the US; IndiGo files litigation in Florida, Maryland

Mini

No-frills carrier IndiGo Airline's parent company InterGlobe Aviation Enterprises has filed litigation in Florida and Maryland in the US seeking information it says it needs for arbitration process in New Delhi relating to the control of the airline between the two co-owners Rakesh Gangwal and Rahul Bhatia.

No-frills carrier IndiGo Airline's parent company InterGlobe Enterprises has filed litigation in Florida and Maryland in the US seeking information it says it needs for arbitration process in New Delhi relating to the control of the airline between the two co-owners Rakesh Gangwal and Rahul Bhatia.
Media report says the airline and Bhatia, group managing director, InterGlobe Aviation told the court in Florida that they are seeking information related to shareholders' agreement between IndiGo, InterGlobe Enterprises, the Bhatia family and the American billionaire Gangwal.
The report further said a similar case filed in a court in Maryland is seeking information from Anupam Khanna, an independent director at the airline.
Earlier this year, Bhatia, in the London Court of International Arbitration (India), accused Gangwal of undertaking a destructive and a very public campaign to dilute their controlling rights in the airline. The appeal said IndiGo's stock lost over $1 billion in valuation on account of Gangwal's actions.
In an exclusive interview to CNBCTV18.com in July this year, Gangwal sought Prime Minister Narendra Modi's intervention to sort out differences between the warring promoters.
 

Market Movers

CompanyPriceChng%Chng
Sun Pharma773.95 70.95 10.09
Tech Mahindra1,209.55 81.75 7.25
Cipla920.05 36.95 4.18
Shree Cements28,265.75 626.80 2.27
Adani Ports674.50 14.85 2.25
CompanyPriceChng%Chng
Sun Pharma774.00 70.75 10.06
Tech Mahindra1,209.45 81.70 7.24
Bajaj Auto3,845.00 82.20 2.18
Power Grid Corp171.05 3.65 2.18
HCL Tech1,025.45 17.85 1.77
CompanyPriceChng%Chng
Hindalco444.80 -13.30 -2.90
Bajaj Finance6,228.10 -172.00 -2.69
SBI Life Insura1,098.60 -30.25 -2.68
Bajaj Finserv14,222.20 -376.85 -2.58
SBI431.80 -9.75 -2.21
CompanyPriceChng%Chng
Bajaj Finance6,228.90 -165.40 -2.59
Bajaj Finserv14,221.30 -369.15 -2.53
SBI431.70 -10.05 -2.28
Tata Steel1,433.75 -25.25 -1.73
Titan Company1,714.50 -25.60 -1.47

Currency

CompanyPriceChng%Chng
Dollar-Rupee74.41000.12500.17
Euro-Rupee88.31500.06700.08
Pound-Rupee103.70700.05400.05
Rupee-100 Yen0.6778-0.0006-0.10