One of the co-founders of India’s largest airline IndiGo has alleged violation of corporate governance rules at parent company Interglobe Aviation Ltd and asked the securities regulator to intervene.
The move appears to indicate that a boardroom dispute is escalating after a report in May that the co-founders and two largest shareholders of India’s largest airline were at odds over its expansion.
In a letter to the Securities and Exchange Board of India (SEBI), co-founder Rakesh Gangwal alleged the company’s board decisions were in defiance of governance protocols and laws.
