There was some respite in the internal wrangling at IndiGo on Wednesday, as IndiGo chairman M Damodaran brokered a truce between the feuding co-promoters Rakesh Gangwal and Rahul Bhatia.
According to reports, IndiGo will now have four independent directors instead of the current two. While Gangwal will have just one nominee on the board, Bhatia will be able to nominate five board members, TV reports said.
According to sources, the changes have been approved by both the parties.
Meanwhile, the board of InterGlobe Aviation has approved a new policy on related party transactions, sources said.
