Diabytes
Indigo shares News
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The stake sale is part of Gangwal's decision to trim his shareholding, a decision announced in February 2022 after a bitter feud with co-founder Rahul Bhatia over alleged corporate governance issues.
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Currently Indigo board comprises six members – Chairman M. Damodaran, Rahul Bhatia, Rakesh Gangwal, Anupam Khanna, Anil Parashar, and Rohini Bhatia who is an independent woman board member.
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SEBI has sought the response from the company on allegations of Gangwal by July 19 while the board of Inter Globe Aviation, the promoter company of Indigo are also meeting on July 19 to consider the results.
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Rakesh Gangwal, one of the co-founders of the airline, has alleged violation of corporate governance rules at Indigo, seeking regulatory intervention from market regulator Sebi.
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IndiGo on Thursday said it was not in "talks" with any airline including Qatar Airways for a stake sale, a month after the gulf carrier's chief executive Akbar Al Baker expressed his desire to invest in the Indian company.
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