Back in July 2019, newspapers were awash in headlines carrying every juicy titbit of the very public spat between Rakesh Gangwal and Rahul Bhatia, promoters of InterGlobe Aviation Ltd, which operates IndiGo, India’s largest airline.
Cut to February 2021 and Gangwal is a man vindicated. Despite taking on the IndiGo management, his allegations of questionable related-party transactions and lapses in governance regulations at the airline have found a ringing endorsement in the settlement order issued by the Securities and Exchange Board of India on Tuesday.
While the settlement itself is a measly Rs 2 crore and change, the order is …
Jayshree is a former writer at The Morning Context. As journalist, she had nearly a decade of experience across Mint, Business Standard and Bloomberg TV India. The bulk of her career has been devoted to tracking the capital markets regulator, exchanges, regulatory policies, financial scams and corporate governance issues. One of her biggest breaking stories was her incisive coverage of the colocation scam which put the lapses at NSE in the public domain.
jayshree@mailtmc.com