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
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 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.
Reports had emerged that IndiGo co-founders Rahul Bhatia and Rakesh Gangwal were having differences on the choice of CEO.
Five Indian-Americans are among the richest in the US, according to a Forbes list of 400 people which has been topped by Microsoft's co-founder Bill Gates for the 23rd year in a row.
Asserting that InterGlobe has been profitable for the last seven years with good cash flows, IndiGo's President Aditya Ghosh said it has a well thought out strategy that delivers a sharply lower cost structure.
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.
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.