The fissures that have emerged between the two promoters of IndiGo — Rahul Bhatia and Rakesh Gangwal — could see the carrier landing up at the National Company Law Tribunal if the board is not able to resolve the dispute even as the CEO of the budget carrier tried to lift the confidence of investors and flyers.
CEO Ronojoy Dutta’s assurances could not prevent the shares of IndiGo from going into a free fall. The stock dropped 8.82 per cent to close at Rs 1,466.60 on the BSE. During the day, it tanked 9.82 per cent to Rs 1,450.50. The company’s market valuation dropped Rs 5,455.89 crore to Rs 56,377.11 crore on the BSE.
