TIWN
Mumbai, July 31 (TIWN) IndiGo's co-founder and Director Rakesh Gangwal on Tuesday said that he has provided "information to the relevant authorities" regarding governance issues at the airline.
Gangwal was responding to media reports that regulators have asked for information but none has been provided. Related party transactions between IndiGo and InterGlobe Enterprises (IGE) was one of the many alleged corporate governance issues that Gangwal had highlighted earlier this month. While Gangwal alleged that proper procedures were not followed while awarding these contracts, this was contended by IGE. Bhatia's firm argued that these transactions amount to less than a percent of IndiGo's topline and have been cleared by the audit committee.
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report
- 300 pc rise in market cap to Rs 400 lakh crore in last 10 years driven by strong economic fundamentals