While a clear answer is elusive, sources said that Rakesh Gangwal may keep away from operational role.
Gangwal is away in the US where he is based and is not attending the AGM
The regulator is said to be not in favour of pacts which may give unequal rights to one set of shareholders.
IndiGo’s board has reached out to former PepsiCo CEO Indra Nooyi to be an independent director
The tussle has gone so far that the Securities and Exchange Board of India (SEBI) had to be brought into the matter.
Gangwal also said he does not want to take over InterGlobe Aviation, the company that runs IndiGo. He also clarified that he would not sell his stake in the company, and that he will no longer be a part of the airline’s operations, and will focus on corporate governance issues instead.
Gangwal claims that the agreement between promoters gives Bhatia too much control and that he has used that for some questionable transaction.
Gangwal approaching Sebi suggests that lawyers on both sides have failed to reach a compromise
Moneycontrol's Sakshi Batra does a 3 point analysis the big concerns and shares an outlook on the company
Vaibhavi Khanwalkar chats with Moneycontrol Deputy Executive Editor, Ravi Krishnan to find out more about the ongoing sitaution.
When asked if the company has gone slow on flights to European destinations like London - as was reported - the airline said it has "not given up on the destinations" and that the answer is neither no, nor yes.
Reports had emerged that IndiGo co-founders Rahul Bhatia and Rakesh Gangwal were having differences on the choice of CEO.
The agreement, which Airbus said was signed on Saturday, confirms an earlier provisional order by IndiGo for the 250 narrow-body planes announced in October.
Without disclosing the details of clarifications sought, the Securities and Exchange Board of India (Sebi) has said it's awaiting response from lead manager for the proposed public offer.
InterGlobe Aviation Limited, which runs the country's biggest airline by market share under 'IndiGo' brand, has offered to issue fresh shares worth Rs 1,272 crore, an equivalent amount can be raised through sale of up to 3.01 crore shares by its existing shareholders.
Indian Business Icons (IBI) 2015, is a special initiative by CNBC-TV18 for celebrating 15 years of leadership. The endeavour is to form a distinct league of the most powerful business icons that the people of the country think have had a monumental impact, not only on their lives, but also on the Indian economy. The icon in focus is Rahul Bhatia.
IndiGo's co-founders, Rakesh Gangwal and Rahul Bhatia, who is also the Group Managing Director of the airline's parent firm InterGlobe Enterprises, signed the Memorandum of Understanding (MoU) placing firm orders for 250 A-320neo family aircraft at the Airbus headquarters in Toulouse, France.
We think the religion at Indigo is to keep fares low, get in the customer, fill-up the planes and get more planes, says Rahul Bhatia,MD,Interglobe Enterprises.
AirAsia‘s entry into the Indian skies could shake up the established order.
Rahul Bhatia says he doesn‘t know what the term â€˜entrepreneur‘ means. To him, it‘s just someone at the right place at the right time and someone who gets the right reins. Bhatia returned to India in the mid 1980s after spending a few years in Canada studying to become an electrical engineer.
Kingfisher and Jet Airways are betting on two different strategies to come out of the deep financial mess they have found themselves in
There has been some turbulence in the List this year. But the smart entrepreneurs are raking it in
IndiGo adhered to what it set out to do and changed passengers’ perception of low-cost airlines in India, says Rahul Bhatia