{"id":281681,"date":"2019-07-11T07:03:07","date_gmt":"2019-07-11T07:03:07","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=281681"},"modified":"2019-07-11T07:03:07","modified_gmt":"2019-07-11T07:03:07","slug":"indigo-shares-drop-by-19-as-billionaire-founders-intensify-feud","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indigo-shares-drop-by-19-as-billionaire-founders-intensify-feud\/","title":{"rendered":"IndiGo shares drop by 19% as billionaire founders intensify feud"},"content":{"rendered":"<p>A feud atop Asia\u2019s biggest budget airline by market value deepened after one of its co-founders accused the other of dubious governance practices, roiling the company\u2019s shares and raising concerns that the dispute will drag on.<\/p>\n<p>Billionaire Rakesh Gangwal informed IndiGo\u2019s operator, InterGlobe Aviation Ltd., that he flagged some of his governance concerns about co-founder Rahul Bhatia to the Securities and Exchange Board of India, the company said in a statement late Tuesday. That prompted queries from the regulator, which InterGlobe will respond to by July 19, it said.<\/p>\n<p>The complaints centered on what Gangwal described as \u201cunusual controlling rights\u201d held by Bhatia, who couldn\u2019t be reached for comment by Bloomberg. That level of power paved the way for Bhatia to push through related-party transactions and major decisions without proper safeguards or protocols, according to Gangwal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A feud atop Asia\u2019s biggest budget airline by market value deepened after one of its co-founders accused the other of dubious governance practices, roiling the company\u2019s shares and raising concerns that the dispute will drag on. Billionaire Rakesh Gangwal informed IndiGo\u2019s operator, InterGlobe Aviation Ltd., that he flagged some of his governance concerns about co-founder Rahul Bhatia to the Securities and Exchange Board of India, the company said in a statement late Tuesday. That prompted queries from the regulator, which InterGlobe will respond to by July 19, it said. The complaints centered on what Gangwal described as \u201cunusual controlling rights\u201d [&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":[184,141,130],"tags":[],"class_list":["post-281681","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-hindustantimes","category-hindustantimes","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/281681","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=281681"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/281681\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=281681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=281681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=281681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}