IndiGo founders said to ready compromise deal

MUMBAI: The feuding co-founders of InterGlobe Aviation Ltd, Rahul Bhatia and Rakesh Gangwal, are working towards a compromise formula that may result in every related party transaction in the company being vetted by independent directors, said two people with direct knowledge of the matter.

In addition, the Articles of Association (AoA) of InterGlobe Aviation, which runs India’s largest airline IndiGo, will be amended to expand the board to 10 directors from the current six, said the people cited above who did not wish to be named. This would however not require changing the existing shareholding agreement, they said.