Independent director joins issue on IndiGo corporate governance
Mumbai: InterGlobe Aviation Ltd’s independent director Anupam Khanna has questioned chairman M. Damodaran’s style of functioning and stressed the importance of keeping shareholders and regulators informed of any uncertainty related to the ongoing feud between the founders of the airline.
In a 5 August letter addressed to Damodaran, Khanna asked the IndiGo chairman to defer policy decisions till the airline’s board has a full complement of four independent directors to safeguard the interest of minority shareholders.
“The safeguard is precisely for situations when the full complement of ID (independent directors) is not in place and the IGE Group with its numbers can ride roughshod over the opposition of all other directors,” Khanna said in the letter, a copy of which has been reviewed by Mint.
