The battle between Rakesh Gangwal and Rahul Bhatia, the two founders of IndiGo, has erupted over accusations of falling corporate governance standards at the airline \u2014 stemming principally from related-party transactions between IndiGo and Bhatia\u2019s IGE group.<\/p>\n
Gangwal, the Florida-based airline executive-turned-entrepreneur, has been livid over the manner in which the IndiGo board stymied his request for an extraordinary general meeting of shareholders to discuss a raft of issues, including Bhatia\u2019s \u201cunusual controlling rights over IndiGo\u201d.<\/p>\n
But there is a lurking suspicion that Gangwal\u2019s accusation of poor corporate governance standards may have more to do with a massive $20-billion, or Rs 140,000 crore, deal that IndiGo had signed at the Paris Air Show on June 17 with CFM International for 560 LEAP-1A engines that will be used to power 280 Airbus A320neos and A321neos that the airline has contracted to buy.<\/p>\n","protected":false},"excerpt":{"rendered":"
The battle between Rakesh Gangwal and Rahul Bhatia, the two founders of IndiGo, has erupted over accusations of falling corporate governance standards at the airline \u2014 stemming principally from related-party transactions between IndiGo and Bhatia\u2019s IGE group. Gangwal, the Florida-based airline executive-turned-entrepreneur, has been livid over the manner in which the IndiGo board stymied his request for an extraordinary general meeting of shareholders to discuss a raft of issues, including Bhatia\u2019s \u201cunusual controlling rights over IndiGo\u201d. But there is a lurking suspicion that Gangwal\u2019s accusation of poor corporate governance standards may have more to do with a massive $20-billion, or […]<\/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":[216,130,148],"tags":[],"class_list":["post-281893","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-telegraph","category-newspapers","category-the-telegraph"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/281893","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=281893"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/281893\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=281893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=281893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=281893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}