{"id":281318,"date":"2019-07-10T05:58:55","date_gmt":"2019-07-10T05:58:55","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=281318"},"modified":"2019-07-10T05:58:55","modified_gmt":"2019-07-10T05:58:55","slug":"indigo-co-founder-seeks-probe-into-deals-with-cos-owned-by-partner","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indigo-co-founder-seeks-probe-into-deals-with-cos-owned-by-partner\/","title":{"rendered":"IndiGo co-founder seeks probe into deals with cos owned by partner"},"content":{"rendered":"<p>MUMBAI\/NEW DELHI: Flagging off corporate governance norms, IndiGo co-founder Rakesh Gangwal has sought market regulator Sebi\u2019s intervention to probe transactions between the carrier and other companies in which partner Rahul Bhatia\u2019s InterGlobe Enterprises (IGE) has stake. Sebi has asked IndiGo to respond to Gangwal\u2019s concerns by July 19.<br \/>\nIn his letter to Sebi, Gangwal has alleged that IGE, which controls the management of IndiGo, has built \u201can ecosystem of other companies that would enter into dozens of related party transactions with the airline\u201d. He also said IGE, which has 38% stake in IndiGo, has the right to unilaterally appoint three out of six directors on the board of the carrier and that the \u201cchairman of the board shall be appointed on the nomination of IGE \u201d. IGE, said Gangwal, also has the \u201cright to nominate and appoint\u201d the MD, CEO and president at IndiGo.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI\/NEW DELHI: Flagging off corporate governance norms, IndiGo co-founder Rakesh Gangwal has sought market regulator Sebi\u2019s intervention to probe transactions between the carrier and other companies in which partner Rahul Bhatia\u2019s InterGlobe Enterprises (IGE) has stake. Sebi has asked IndiGo to respond to Gangwal\u2019s concerns by July 19. In his letter to Sebi, Gangwal has alleged that IGE, which controls the management of IndiGo, has built \u201can ecosystem of other companies that would enter into dozens of related party transactions with the airline\u201d. He also said IGE, which has 38% stake in IndiGo, has the right to unilaterally appoint three [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220,130,137],"tags":[],"class_list":["post-281318","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-times-of-india","category-newspapers","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/281318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=281318"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/281318\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=281318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=281318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=281318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}