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In an open letter to Raymond’s five independent directors, IiAS urged the board members to investigate the accusations as the company’s stock has seen “significant erosion”.

A drop in employee costs, despite the need to hire pilots under the new DGCA norms, raises fresh concerns about IndiGo’s staffing, and its vulnerability to a December 2025-scale disruption.
The retired banker wants India’s top companies to invest in AI. But the capital, ambition, and urgency simply aren’t there.
While the regulator’s interim order alleges massive irregularities, the long arc of unfinished probes, hearings and appeals makes closure distant.