Greater control with cofounder Rahul Bhatia may be behind tiff in IndiGo cockpit

MUMBAI: Cofounders Rahul Bhatia and Rakesh Gangwal hold near-equal stakes in IndiGoNSE -0.54 %, but the scales are tilted in favour of Bhatia when it comes to control of the board and management.

Bhatia’s holding company Inter-Globe Enterprises (IGE) has the right to appoint key managerial personnel, including the chairman, MD, CEO and president. It also has the right to nominate three non-independent directors, one of whom will be non-retiring.