{"id":469321,"date":"2022-02-19T09:01:40","date_gmt":"2022-02-19T03:31:40","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=469321"},"modified":"2022-02-19T09:21:13","modified_gmt":"2022-02-19T03:51:13","slug":"end-of-battle-rakesh-gangwal-quits-indigo-board-to-reduce-stake","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/end-of-battle-rakesh-gangwal-quits-indigo-board-to-reduce-stake\/","title":{"rendered":"End of battle? Rakesh Gangwal quits IndiGo board, to reduce stake"},"content":{"rendered":"<p>After years of dispute between the IndiGo promoters, co-founder Rakesh Gangwal has stepped down from the airline\u2019s board. While announcing his decision to reduce stake in the company over the next five years, Gangwal has hinted at a return to the board sometime in future.<\/p>\n<p>Gangwal controls 36.6 per cent stake in InterGlobe Aviation, which owns and operates IndiGo. His stake is valued at over Rs 29,895 crore as per the closing share price on Friday. The other promoter Rahul Bhatia owns 38.18 per cent in the company.<\/p>\n<p>A former president of US Airways, Gangwal had teamed up with Bhatia of InterGlobe Enterprises to launch IndiGo in 2005. The two promoters fell apart in 2019 on allegations of governance lapses resulting in an inquiry by the Securities and Exchange Board of India (Sebi) and an arbitration.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After years of dispute between the IndiGo promoters, co-founder Rakesh Gangwal has stepped down from the airline\u2019s board. While announcing his decision to reduce stake in the company over the next five years, Gangwal has hinted at a return to the board sometime in future. Gangwal controls 36.6 per cent stake in InterGlobe Aviation, which owns and operates IndiGo. His stake is valued at over Rs 29,895 crore as per the closing share price on Friday. The other promoter Rahul Bhatia owns 38.18 per cent in the company. A former president of US Airways, Gangwal had teamed up with Bhatia [&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":[135,167,130],"tags":[],"class_list":["post-469321","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-civil-aviation-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/469321","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=469321"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/469321\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=469321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=469321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=469321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}