Sunday, May 19, 2019

Rakesh Gangwal is not seeking control, says IndiGo

Mumbai: In a bid to dispel speculation and to curtail the rumour mills on the alleged rift between two IndiGo promoters Rakesh Gangwal and Rahul Bhatia, Interglobe Aviation Ltd or IndiGo Airlines issued a statement on Saturday evening saying that these are baseless and not in the interest of passengers, employees and its shareholders.

"Every great company goes through a period of transition and during these times there will be some turbulence which is neither unusual nor unwelcome," Ronojoy Dutta, CEO, IndiGo in the press statement said.

"We urge not to confuse every management change as a sign of dissonance at the top," Ronojoy Dutta said.

Things reached a critical point when the rift between promoters -- Rakesh Gangwal and Rahul Bhatia -- came out in the open this week.

The shareholder agreement between Rakesh Gangwal and Rahul Bhatia was supposedly at the heart of the alleged rift. The agreement put Rahul Bhatia in the driver's seat and was seen to be the reason of the discord.

The matter further escalated when the two lawyered up and hired law firms ahead of the shareholder agreement expiring in October this year.

IndiGo admitted that the two have hired law firms - IGE Group is represented by the law firm of JSA and the RG Group is represented by the law firm of Khaitan & Co. But, these Ronojoy Dutta claims are long standing relationship.
19/05/19 Pankaj Upadhyay/India Today

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