IndiGo cofounder and promoter Rakesh Gangwal, who is feuding with fellow cofounder Rahul Bhatia over the management of India’s biggest airline, said his rivals were hiding behind “sources” and spreading a “false narrative” about the dispute, signalling that they don’t seem any closer to a rapprochement. Here is Everything you need to know about IndiGo airline crisis. #IndiGo #RahulBhatia #RakeshGangwal
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Watch भारत की biggest airline 'IndiGo' के मालिक Rahul Bhatia -Rakesh Gangwal के झगड़े की कहानी With HD Quality.
IndiGo cofounder and promoter Rakesh Gangwal, who is feuding with fellow cofounder Rahul Bhatia over the management of India’s biggest airline, said his rivals were hiding behind “sources” and spreading a “false narrative” about the dispute, signalling that they don’t seem any closer to a rapprochement. Here is Everything you need to know about IndiGo airline crisis. #IndiGo #RahulBhatia #RakeshGangwal
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Watch भारत की biggest airline 'IndiGo' के मालिक Rahul Bhatia -Rakesh Gangwal के झगड़े की कहानी With HD Quality
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Terming co-founder Rakesh Gangwal's allegations of governance lapses at InterGlobe Aviation as much ado about nothing, Rahul Bhatia's group Friday said the company is well run, financially sound and managed by a competent set of managers. Asserting that 'pan ki dukaan' (betel shop) has apparently done well, InterGlobe Enterprises said there was no abuse of rights and Gangwal's proposal for convening an Extraordinary General Meeting (EGM) was rejected on the basis of a legal opinion obtained by the board of InterGlobe Aviation.
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Watch IndiGo promoters' dispute: Rahul Bhatia's group responds to Gangwal's allegations With HD Quality
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The much publicised fight between IndiGo promoters Rakesh Gangwal and Rahul Bhatia has resulted in nearly $1.5 billion of wealth erosion in just two trading sessions on the stock exchanges. And the big reason for that is the markets fear the Batman and Robin of India's largest airline have reached a point of no return?
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The feud between IndiGo’s promoters took a serious turn Tuesday with Rakesh Gangwal seeking an intervention from the capital markets regulator to resolve his “alleged grievances”. India’s biggest airline by market share said in an exchange filing that Gangwal had informed the company board about his communication to SEBI. The company didn’t specify the contents of the letter. The airline’s CEO Ronojoy Dutta separately declined to comment.
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