Rakesh Gangwal quits as IndiGo director

Rakesh Gangwal, the co-founder of IndiGo parent InterGlobe Aviation, on Friday resigned as a director from the company and announced his intention to pare his holding over the next five years — thereby handing over the baton to Rahul Bhatia.

His move comes a fortnight after co-promoter Bhatia was appointed as the managing director of the airline for five years.

Bhatia and Gangwal were engaged in a bitter feud over the operations of the airline for more than two years that drew to a close in December 2021 when the shareholders voted to remove the restrictions on the transfer of the duo’s shares to a third party.