{"id":281575,"date":"2019-07-11T05:51:24","date_gmt":"2019-07-11T05:51:24","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=281575"},"modified":"2019-07-11T06:06:08","modified_gmt":"2019-07-11T06:06:08","slug":"intergloble-aviation-counters-rakesh-gangwals-claim","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/intergloble-aviation-counters-rakesh-gangwals-claim\/","title":{"rendered":"InterGloble Aviation counters Rakesh Gangwal\u2019s claim"},"content":{"rendered":"<p>InterGlobe Aviation Ltd (IGAL) has clarified that the existence of Related Party Transactions (RPTs) were disclosed at the time of the IPO in 2015. <\/p>\n<p>This was one of the main accusations that Rakesh Gangwal, co-founder, IndiGo Airlines, had made in his submission to SEBI late on Tuesday. <\/p>\n<p>\u201cPost the IPO, many of the RPTs have ceased to exist while others have been renewed on an arm\u2019s length basis as part of the normal course of business,\u201d the airline said in a media statement. <\/p>\n<p>The statement adds that InterGlobe Enterprises and its Group Entities (IGE) Group has ensured that no entity of the group takes advantage under the RPTs. \u201cWithout exception, IGAL has received more favourable treatment from the IGE Group entities as compared to their other customers,\u201d the statement said. It added that the materiality of the transactions for IGAL is not significant, as it was only 0.53 per cent of its consolidated turnover for fiscal 2018-19.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>InterGlobe Aviation Ltd (IGAL) has clarified that the existence of Related Party Transactions (RPTs) were disclosed at the time of the IPO in 2015. This was one of the main accusations that Rakesh Gangwal, co-founder, IndiGo Airlines, had made in his submission to SEBI late on Tuesday. \u201cPost the IPO, many of the RPTs have ceased to exist while others have been renewed on an arm\u2019s length basis as part of the normal course of business,\u201d the airline said in a media statement. The statement adds that InterGlobe Enterprises and its Group Entities (IGE) Group has ensured that no entity [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-281575","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/281575","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=281575"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/281575\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=281575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=281575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=281575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}