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Gangwal’s new letter: SEBI seeks IndiGo’s response

PTI New Delhi | Updated on September 04, 2019 Published on September 04, 2019

IndiGo carried more than half of the passengers flown by the domestic industry.   -  Reuters

SEBI has sought a response from InterGlobe Aviation, parent of IndiGo, on a new letter by the company’s co-promoter Rakesh Gangwal regarding corporate governance issues.

Gangwal and co-promoter Rahul Bhatia have had differences over corporate governance matters at the airline.

In a filing to the stock exchanges on Wednesday, InterGlobe said SEBI has sought comments on a letter written by Gangwal on August 30. “The company will provide its response to SEBI,” it said.

The issues are related to amendment to the company’s Articles of Association to remove the rights of the IGE Group, and past related party transactions, among others, it added.

Published on September 04, 2019
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