Rate Story. Font Size Abc Small. Abc Medium. Abc Large. Rakesh Gangwal, 65, is accusing partner Rahul Bhatia , 59, of corporate-governance transgressions at Indian budget airline IndiGo and wants his powers curbed.
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Airbus' rival Boeing had captured 90 per cent of the Indian market at that time; Airbus was desperate to make it big in India, and Gangwal knew it too well. Gangwal seems to have realised that it's time that their rights should be equal," says an aviation consultant. Even though Gangwal denies it, Bhatia camp has been accusing RG Group of gaining control over the airline. Gangwal maintains that the fight germinates from lax corporate governance practices at IndiGo, and particularly the dubious RPTs between IndiGo and the companies personally owned by Bhatia.
At present, IGE Group and IndiGo have RPTs in areas like real estate rentals, call centre services, simulator training facilities, general sales agents and crew accommodation at hotels. Gangwal also raises objections on the EY audit which was set up to look into these allegations. For now, the ball is in the SEBI's court which will have to take a call on how to deal with in a corporate battle which also involves alleged flouting of its guidelines. I hope both factions sit down in private and resolve differences amicably before any serious damage is done to the morale of the company," says Devesh Agarwal, an aviation expert.
It has started veering off from the core principles and values of governance that made IndiGo what it is today. Gangwal for having attempted to hold the company's business to ransom, as this paved the way for the company to institutionalize an area of operations which Mr. Gangwal had kept as his exclusive preserve.
Also Read: Email 'six minutes' before board meeting, other transgressions that led to the IndiGo blowout. Sign In. From Mumbai, many spots in Africa; from Chennai bunch of spots in the southeast and Kolkata loads of spots in north Asia. IndiGo will cover every one of them. The industry plans on reaching small towns, small cities, and other remote locations like Ladakh where flight connectivity is almost non-existent, and other international destinations where India has never flown to yet.
Although for the next 2 years IndiGo expects a slight decline in growth due to the pandemic situation, the airline industry currently focuses on increasing productivity and providing a quality, top-notch experience to its flyers. IndiGo abides by three values: punctuality, pocket-friendly airfare, and quality experience.
The current scenario of IndiGo Airlines Indigo Airline Logo Adhering to their original idea of being a pocket-friendly airline LLC: Low-cost carrier IndiGo offers just Economy Class seating and doesn't give on any of its trips in-flight entertainment or free dinners however it has a purchase on-board in-flight supper program.
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