Related-party transactions at IndiGo get audit nod

Mumbai: IndiGo on Friday said that all related-party transactions (RPTs) with the airline in 2018-19 have been reviewed and approved by its audit committee.

“All related-party transactions were in the ordinary course of business and on an arms’ length basis. During the year under review, the company had not entered into any contracts or arrangements with related parties referred to in Section 188(1) of the Act, which required the approval of the board,” IndiGo said in its annual report released on Friday.

“In accordance with regulation 23 of the listing regulations, the company has formulated a policy on materiality of related-party transactions and dealing with related-party transactions, which was recommended by the audit committee and approved by the board,” it added.