February 19th, 2022 6:30 PM 0 COMMENTS

IndiGo Co-Founder Rakesh Gangwal Resigns From IndiGo’s Board

Rakesh Gangwal, the co-promoter of IndiGo Airlines, resigned from the carrier’s parent company InterGlobe Aviation and hence, from its Board of Directors, with immediate effect. He was serving as a non-independent, non-executive Director at the company. In a letter written to the Board of Directors, Gangwal said that he would sell his stakes at the airline over a span of five years but may consider re-joining the board as a... Read More

February 5th, 2022 12:10 PM 0 COMMENTS

Rahul Bhatia Is Now IndiGo’s Managing Director, Airline Announces Profit in Q3

A month after shareholders approved the removal of a contentious clause that finalised the settlement between IndiGo’s two fighting promoters, InterGlobe Aviation Ltd., the parent company of budget carrier IndiGo, named co-founder Rahul Bhatia as its Managing Director. Bhatia would not be paid by the firm during his five-year tenure, except for the benefits and perquisites he is entitled to under the company’s guidelines. The position is the next step... Read More

July 12th, 2019 4:46 PM 0 COMMENTS

SEBI Seeks Response From IndiGo’s Board of Directors About Promoter Rakesh Gangwal’s Allegations

The spat between founders of InterGlobe Aviation Limited, Rahul Bhatia and Rakesh Gangwal, finally became public. Rakesh Gangwal alleged severe corporate governance lapses against the company in a letter to the Securities and Exchange Board of India (SEBI). Rakesh Gangwal owns 36.68% of stake in the company. He pointed out that even a ‘paan ki dukhaan’ (betel shop) would have managed the issues with more grace. He claimed that he... Read More

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