NEW DELHI: IndiGo is sending its reply to Sebi on clarifications sought by the market regulator following complaints from the airline’s co-founder and promoter Rakesh Gangwal. “We will respond to the corporate affairs ministry by the end of next week,” said IndiGo CEO Ronojoy Dutta (Rono) said.
The airline’s board met on Friday and will do so on Saturday also. Apart from expanding the board, an independent woman member will also be appointed, which was an issue raised by Gangwal.
“Of course we have to take this step to comply with the law. But in order to induct an independent woman director we need to change the Articles of Association of the company which now need to be amended. We are working on this. And a final decision on this subject will be taken (Saturday),” Rono said in a conference call with analysts shortly after the results were declared, adding, “We are discussing a whole range of issues (referring to issues raised by Rahul Bhatia-Gangwal spat).”
