IndiGo’s Rakesh Gangwal moves HC to enforce award of London arbitration

IndiGo co-founder Rakesh Ga­n­gwal has moved Delhi High Court to enforce an arbitration order of the London Court of International Arbitration.

Sources said the order had mandated relief in terms of the shareholders’ agreement, whi­ch gives greater control to co-promoter Rahul Bhatia and puts restrictions on transferring shares.

Based on the proceedings initiated by Bhatia-owned lnterGlobe Enterprises (IGE), the London Court of In­ternational Arbitration had on September 23 given the final award in the fight between the two IndiGo promoters.

The proceedings were initiated by InterGlobe Enter­prises (IGE) and Bhatia against Gangwal, the Chinkerpoo Family Trust, and Shobha Gangwal (RG Group).