Europe & UK

October 02, 2019

Indigo Promoter Rahul Bhatia Approaches London Court Of International Arbitration Against Co-Promoter Gangwal

[ By Bobby Anthony ]


Budget airline IndiGo has stated that one of its promoters, InterGlobe Enterprises (IGE) and Rahul Bhatia, have approached the London Court of International Arbitration to settle dispute with another promoter Rakesh Gangwal under the shareholders agreement.

According to a filing to the Bombay Stock Exchange (BSE) filing, IndiGo said that it has been named as a respondent “as it is a party to the shareholders agreement”.

“We hereby inform you that InterGlobe Enterprises Private Limited and Rahul Bhatia, as claimants, have submitted a Request for Arbitration dated October 1, 2019 to the London Court of International Arbitration under the shareholders agreement dated April 23, 2015 executed between, inter-alia, the IGE Group, Rakesh Gangwal, The Chinkerpoo Family Trust, Shobha Gangwal and InterGlobe Aviation Limited,” the company said in a regulatory filing.

“The IGE Group and the RG Group are promoters of the company. The company has been named as a respondent as it is a party to the shareholders agreement”.

In July, Gangwal had sought Securities & Exchange Board of India’s (SEBI) intervention in alleged corporate governance lapses at the company, bringing the differences between long-time friends and promoters of IndiGo into open.

The allegations were rejected by Bhatia.

Related Post

latest News

  • Allahabad Bank Reports Rs 688-Crore Fraud By SEL Manufacturing Adding That The Matter Is Before The NCLT

    The state-owned Allahabad Bank has stated in a regulatory filing that it has been hit by a fraud of Rs 688.27 crore by SEL Manufacturing and the matte...

    Read More
  • ICICI Bank Moves HC To Recover Chanda Kochhar’s Bonuses

    ICICI Bank has approached the Bombay High Court seeking recovery of bonuses earned by its ousted CEO Chanda Kochhar.

    Read More
  • Plea Moved In SC Against WhatsApp Pay Trials

    A plea has been moved in the Supreme Court seeking a complete stoppage of trials being conducted by WhatsApp Pay, a pilot mobile payments project floa...

    Read More