Wednesday, July 31, 2019

Rivals spreading a false narrative, says IndiGo Rakesh Gangwal

New Delhi: IndiGo cofounder Rakesh Gangwal, who is feuding with fellow cofounder Rahul Bhatia over the management of India’s biggest airline, said his rivals were hiding behind “sources” and spreading a “false narrative” about the dispute, signalling that they don’t seem any closer to a rapprochement.
“I stand by my issues raised with Sebi (Securities and Exchange Board of India) and with other governmental and regulatory authorities and am honouring all requests for information from the various agencies,” he told ET. “I wish people had the conviction to be directly quoted and not hide behind so-called sources to spread a false narrative in the media.”
He was responding to reports in which sources close to Bhatia and his InterGlobe Enterprises (IGE) alleged that the Gangwal’s complaints were merely a “smokescreen” to conceal his “larger game plan” to take control of the carrier. It was also alleged that Gangwal hadn’t replied to agencies seeking clarifications on his complaints.
The Bhatia family and IGE together own 38.23% in IndiGo. Gangwal, who owns 36.65% stake, didn’t reply to any other questions and said he wouldn’t like to fight his case through
31/07/19 Mihir Mishra/Economic Times

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