The Rahul Bhatia-group on Sunday fired a fresh salvo at Rakesh Gangwal, claiming the latter always limited his financial risks and was making insidious efforts to create an unseemly controversy about corporate governance.
InterGlobe Enterprises (IGE), which is the holding company of the Bhatia group, pointed out in a statement the arrangement between IndiGo’s promoter groups has been transparent from the time of inception, adding that during challenging times it was the IGE group that took care of the airline.
“Even more significantly, during the turbulent period of a fledgling airline, it was left to the IGE group, as a responsible founder, to fend for IndiGo. Gangwal was missing in action at that time and there were stages where he wanted to de-risk and pushed for the business to be sold,” the group said in a statement that also provided details about investments made by the two sides.
