 "Rakesh Gangwal, Rahul Bhatia")
The ongoing boardroom battle at InterGlobe Aviation could have been nipped in the bud had the market regulator, Securities and Exchange Board of India (Sebi), insisted on ironing out the differences in the controlling rights of the two promoters at the time of listing of the company in 2015.
Legal experts said questions around corporate governance practices may not have blown up to this extent, leading to differences between the two promoters, if at the time of listing all the shareholders had equal rights, mapped to the extent of their shareholding.
Sebi over the last couple of years has been
