IndiGo feud:The war of words between co-founders continues

The dispute over corporate governance between Rakesh Gangwal and Rahul Bhatia, the two co-founders of IndiGo Airlines, has become more bitter.

In a media statement, InterGlobe Enterprise (IGE) said that though Gangwal, while airing his grievances, talked about the rights of the IGE Group as a shareholder and promoter, he failed to cite a single instance where there has been any kind of misuse or abuse of such rights.

The exchange of allegations and counter-allegations between the two came out in the open when Gangwal wrote to the Securities and Exchange Board of India (SEBI) on Tuesday, asking it look into violations of corporate governance rules and questionable related party transactions (RPTs).