NEW DELHI: InterGlobe Enterprises, the holding company of IndiGoNSE 0.16 % promoter Rahul Bhatia, is said to have defended its control of the airline by saying that the company and Bhatia took all the economic risks while Rakesh Gangwal\u2019s ownership was more of sweat equity. <\/p>\n
\u201cGangwal\u2019s ownership was in the form of sweat equity and the entire economic risk, way above and beyond InterGlobe\u2019s contractual agreement with Gangwal, was borne by InterGlobe,\u201d said a person close to Bhatia who did not want to be identified. <\/p>\n
The person said the IGE group had invested Rs 1,100 crore in the business, while the earlier requirement was of Rs 200 crore. <\/p>\n
\u201cAll the risks we carry, while the economic gains were shared equally,\u201d the person said. \u201cBhatia or IGE did not ask Gangwal to dilute some stake in the company, which could have been done.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: InterGlobe Enterprises, the holding company of IndiGoNSE 0.16 % promoter Rahul Bhatia, is said to have defended its control of the airline by saying that the company and Bhatia took all the economic risks while Rakesh Gangwal\u2019s ownership was more of sweat equity. \u201cGangwal\u2019s ownership was in the form of sweat equity and the entire economic risk, way above and beyond InterGlobe\u2019s contractual agreement with Gangwal, was borne by InterGlobe,\u201d said a person close to Bhatia who did not want to be identified. The person said the IGE group had invested Rs 1,100 crore in the business, while […]<\/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":[192,130,136],"tags":[],"class_list":["post-284862","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-economic-times","category-newspapers","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/284862","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=284862"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/284862\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=284862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=284862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=284862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}