IndiGo Crisis News
IndiGo shareholder pact to be checked by govt for violations
Agreement between Gangwal, Bhatia could be annulled if found violating the Companies ActSebi will look into Gangwal’s allegations of governance failure in the firm
2 min read11 Jul 2019IndiGo crisis: $20 billion CFM deal may be the trigger for row
It was in 2016 that IndiGo started ordering engines from CFM after facing problems with Pratt and Whitney enginesOn 17 June, IndiGo said it placed an order to buy CFM International LEAP-1A engines to power 280 Airbus A320neo and A321neo aircraft
2 min read11 Jul 2019Rift between IndiGo co-founders widens as tussle reaches Sebi doorstep
The differences between the co-founders of India’s largest airline, by market share, have worsened. In a fresh flash-point between IndiGo’s Rakesh Gangwal and Rahul Bhatia, the former filed a complaint with the Securities and Exchange Board of India (SEBI), alleging violation of corporate governance norms by the latter. Bhatia has responded to the allegations, calling them an attempt to dilute the controlling rights of his enterprise, IGE Group. SEBI has asked the airline to respond by July 19, 2019.
10 Jul 2019IndiGo being run like a ’paan ki dukaan’, says co-promoter Rakesh Gangwal
Gangwal, who along with his affiliates holds around 37% stake in InterGlobe Aviation, alleged serious governance lapses at the company Gangwal has written a letter to markets regulator Sebi flagging governance issues at the company
1 min read9 Jul 2019Rakesh Gangwal writes to Sebi, escalating IndiGo feud
Seeks Sebi’s intervention to curb alleged violations by co-founder BhatiaBhatia denied Gangwal’s charges and accused him of trying to dilute the controlling rights of his holding company
3 min read10 Jul 2019As turbulence at IndiGo escalates, uncertainty drags down the stock
Interglobe Aviation’s shares had earlier shrugged off concerns raised by a co-founderInvestors were more enthused about growth in market share after Jet Airways’ exit
2 min read10 Jul 2019Promoter vs Promoter: Why IndiGo feud is worrying analysts
The tiff between IndiGo’s co-founders has spilled over into the public domain after Rakesh Gangwal complained to the Securities and Exchange Board of India (SEBI) against co-promoter Rahul Bhatia. As the dispute intensified, InterGlobe Aviation Ltd shares tumbled nearly 20% on Wednesday morning. Although they recovered slightly, but analysts feel the worst is yet to come. Analysts aren’t particularly worried about any immediate impact on the company’s financials but concerns about governance lapses can affect valuation multiples.
10 Jul 2019IndiGo CEO to employees: Promoter feud nothing to do with airline’s functioning
CEO Dutta said the airline’s mission, direction and growth strategy remains unchanged, and firmly in placeRakesh Gangwal, one of the promoters of IndiGo, alleged serious governance lapses by its co-founder Rahul Bhatia
1 min read10 Jul 2019Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared