Promoters of India’s largest airline IndiGo — Rahul Bhatia and Rakesh Gangwal — have appointed separate law firms to settle a dispute between the two pertaining to management control and appointment of key executives at the carrier, sources told The Indian Express. Bhatia and Gangwal did not respond to e-mail queries at the time of going to press.
As of March 31, Rahul Bhatia held 38 per cent stake in Interglobe Aviation, the parent company of IndiGo, while Gangwal held 37 per cent share in the company. The airline was founded by Bhatia and Gangwal in 2006, and at the time of the company’s listing in 2013, both of them held 99 per cent stake in the IndiGo.
According to one source, the tension between the two promoters have been simmering since exit announcement of the airline’s CEO Aditya Ghosh in April last year and the consequent appointment of expatriates in management positions. Read More