InterGlobe Aviation shares fall nearly 5%1 min read . Updated: 15 Jul 2019, 01:36 PM IST
- Differences between the promoters were made public last Tuesday
- On the NSE, shares dropped by 4.64% to ₹1,293.85
New Delhi: The scrip of InterGlobe Aviation fell nearly 5% on Monday amid a slew of negative news surrounding the airline, including allegations of governance lapses.
The scrip declined 4.17% to ₹1,300 on the BSE.
On the NSE, shares dropped by 4.64% to ₹1,293.85.
InterGlobe Aviation is the parent of IndiGo.
With promoter spat intensifying at the airline, markets watchdog Securities and Exchange Board of India (Sebi) and the corporate affairs ministry have started digging deep into allegations of governance lapses and violations that could force the government to override existing arrangements and pacts at InterGlobe Aviation, officials said.
Bringing the differences between long-time friends and promoters of IndiGo out in the open, Rakesh Gangwal has sought Sebi's intervention into alleged corporate governance lapses at the company.
InterGlobe Aviation, which got listed in 2015, has come under intense regulatory scanner and there are indications of multiple violations of Sebi norms.
Differences between the promoters were made public last Tuesday.
Interglobe Aviation had on Friday informed BSE that the meeting of the board of directors of the company was scheduled on 19 July to consider and approve unaudited standalone and consolidated financial results for the quarter ended 30 June 2019.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.