IndiGo to investors: Related-party deals small, and at arm’s length
NEW DELHI: InterGlobe Aviation’s management on Tuesday sought to assure shareholders that the issue of related-party transactions at the operator of IndiGoNSE 0.39 % airline wasn’t as serious as it was made out to be by co-promoter Rakesh Gangwal.
At the first annual general meeting (AGM) after the differences between the promoters, Rahul Bhatia and Gangwal, spilled over into the public domain, the management said related-party transactions constituted less than 1% of revenue and the company had maintained an arm’s length on the deals.
