The government has sought explanations from InterGlobe Aviation on the allegations of corporate governance lapses raised by co-founder and promoter Rakesh Gangwal. InterGlobe Aviation is the parent of IndiGo, the country’s No. 1 airline.
The board of the airline is meeting on Friday to discuss the quarterly results. The board is also likely to discuss differences with the promoters on corporate governance.
In a filing to the stock exchanges, the company on Thursday said it received a communication on Wednesday from the Ministry of Corporate Affairs (MCA) regarding the complaint.
The Registrar of Companies (RoC), National Capital Territory of Delhi & Haryana, has sought “certain information/explanations” in relation to Gangwal’s complaint.
The ministry’s communication comes less than 10 days after Gangwal flagged concerns about corporate governance lapses at InterGlobe Aviation, especially certain related party transactions entered into by co-founder Rahul Bhatia’s InterGlobe Enterprises (IGE) Group.
