IndiGo to expand board to 10 directors, promoters yet to make peace

IndiGo's promoters, Rahul Bhatia and Rakesh Gangwal, have publicly fallen out after Gangwal wrote to Sebi alleging lack of corporate governance in the company

After more than 10 hours of deliberation spread over days, a decision has been taken to expand the IndiGo board to 10 directors. Four of them will be independent directors. Currently, it’s a six-member board, including two independent directors.

The contours of the IndiGo board and the number of directors have been a contentious issue with co-promoter Rakesh Gangwal pointing at corporate governance lapses in the company.

Despite a swift decision by the board on expansion, the two warring promoters of the country’s largest airline are yet to sign a truce, differing over the number of directors each group can