Tuesday, 9 July 2019
The board of Directors of lnterGlobe Aviation, which runs IndiGo, has been asked by the Securities and Exchanges Board of India (SEBI) to respond to a letter written by Rakesh Gangwal, which sought regulatory intervention on his alleged grievances.The board has been told to respond to Gangwal's letter by July 19. IndiGo previously made headlines over differences that arose between the airline's two promoters - Rahul Bhatia and Rakesh Gangwal.
In an interview to CNBC-TV18 on June 25, IndiGo CEO Ronojoy Dutta said the differences between them were over related party transactions.
The differences are specifically connected to the transactions between IndiGo, and other units of InterGlobe Enterprises, the holding company of Rahul Bhatia's business empire.IndiGo itself is under the umbrella of InterGlobe Aviation, one of the units of InterGlobe Enterprises. Apart from aviation, the Group also has interests in hospitality, airline management, travel commerce, advanced pilot training, aircraft maintenance engineering and real estate.