Just a few days after news surfaced that Indigo promoters have called it a truce, co-founder Rakesh Gangwal called the earlier media reports “planted” and wrote a letter to the board of directors maintaining that the issues between him and InterGlobe Limited are not over yet. Dissing media reports, Gangwal said that the reports left misleading information and false impression that the issue between promoters is over. Rakesh Gangwal also said that the issues on RPTs and changes to the Articles do not have the support of both promoter groups. “I am ” … unable to support the resolution in the absence of the complementary Board resolution on the Articles and the RPT policy”,” Gangwal said. The disagreement on related-party transaction (RPT) policy and board composition still persist between the Indigo promoters, according to a BSE filing. InterGlobe Aviation has acknowledged the receipt of Rakesh Gangwal’s letter and said that the board has sent a copy to regulatory body SEBI, the Ministry of Corporate Affairs, and BSE and NSE. Further, InterGlobe has been advised by SEBI to comment on Gangwal’s letter.
