NEW DELHI: IndiGo chairman M Damodaran has brokered a truce between the airline’s warring promoters — Rahul Bhatia with his family-controlled Inter-Globe Enterprises (IGE) and Rakesh Gangwal.
On the issue of IndiGo entering into related party transactions (RPT) with IGE Group companies, a policy is being worked out that transaction of over a certain value, likely to be Rs 2 crore and above, will be examined by outside consultants, say sources.
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“On earlier issues of RPTs raised by Gangwal, IndiGo has sent its replies to Securities & Exchange Board of India (Sebi). According to the policy being worked out, if the outside consultant has an issue with IndiGo entering into certain RPT with IGE Group companies, independent directors will decide on the matter,” said sources.
