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IndiGo dips 5% as Gangwal alleges 'loophole' in proposed board structure

In the letter, Gangwal has alleged that "the proposed (new) board structure created a large loophole that gives the IGE Group additional powers that they don't have today."

Topics
Airline IndiGo | IndiGo shares | Indigo share prices

SI Reporter  |  New Delhi 

Shares of InterGlobe Aviation, the parent company of IndiGo airline, slipped 5 per cent to Rs 1,413 on the BSE in early morning deals on Tuesday after co-founder Rakesh Gangwal alleged that the new structure of the IndiGo board will only add to the powers of InterGlobe Enterprises -- owned by fellow co-founder Rahul Bhatia.

According to a BSE filing by InterGlobe Aviation, Gangwal wrote a letter to all the board members, a copy of which has also been sent to the SEBI, the Ministry of Corporate Affairs, and BSE and NSE. READ THE BSE FILING HERE In the letter, Gangwal has ...

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First Published: Tue, August 06 2019. 10:54 IST
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