Indigo promoters Rahul Bhatia, Rakesh Gangwal may call truce soon

The much-awaited annual general meeting (AGM) of InterGlobe Aviation, which runs the low-cost carrier, IndiGo, took place on Tuesday but minus any fireworks, in which the co-promoters —Rakesh Gangwal and Rahul Bhatia — have been indulging in for the past one-and-a-half months.

Gangwal, who has raised issues related to corporate governance at the airline and sent missives to the Securities and Exchange Board of India (Sebi) and the ministry of corporate affairs, was not present during the meet as he was in the US. Another notable absentee was independent director Anupam Khanna, who sided with Gangwal’s reservations on the issue of expansion of the board in a manner which gives more power to Bhatia at certain times.