Air turbulence: IndiGo warring duo may resolve row this week

The feuding co-promoters of IndiGo — Rakesh Gangwal and Rahul Bhatia — could announce resolution of their differences as early as this week, possibly bringing an end to their public infighting. According to sources, the two sides are discussing mechanisms for executing related party transactions (RPTs) which was a flashpoint for the dispute. Other issues also seem to have been resolved between Gangwal and Bhatia. The negotiations are being steered by board chairman M Damordaran and former World Bank executive Anupam Khanna — an independent director on the board.

“Issues around RPTs are only left to be resolved. Negotiations are currently on. There has been a significant progress in the last few days. We hope to resolve them soon,” a person aware about the development said. One of the options on the RPTs being discussed is vetting each such transaction by the independent directors. Gangwal, on the other hand, had suggested that every RPT for more than Rs 50 lakh each year must be approved by the audit committee.