IndiGo promoter Rahul Bhatia has hit back at co-promoter Rakesh Gangwal’s demand for more control, saying that he has played a more significant role and undertaken financial risks while Gangwal limited his own.
This arrangement, Bhatia’s InterGlobe Enterprises (IGE) says, is the primary reason why it has more controlling rights in the company.
The support included personal guarantees from Bhatia and his father, Kapil Bhatia, of more than Rs 1,100 crore during the initial years of the company.
Bhatia has said its businesses had supported the airline in its fledgling years through its pan Indian sales and distribution network, call centres and IT services, and office space, some of which was also provided on a complimentary basis.
