One of the co-founders of Indian airline IndiGo is seeking to modify rules on the sale and purchase of shares by its main shareholders amid a bitter spat with his founding partner in the country's largest carrier.

One of the co-founders of Indian airline IndiGo is seeking to modify rules on the sale and purchase of shares by its main shareholders amid a bitter spat with his founding partner in the country's largest carrier. Rakesh Gangwal, who co-founded IndiGo with Rahul Bhatia, is seeking to delete certain rules in the company's articles of association that give Bhatia the right of first refusal should Gangwal choose to sell his shares, a stock exchange filing showed. Gangwal, an American and aviation industry veteran who spent years in senior roles at United Airlines and U.S. Airways, and Bhatia, who runs things on the ground in India, each control stakes of slightly less than 40% in InterGlobe along with their respective families, giving them both a major say in the carrier's strategy. Gangwal, who alleged violations of corporate governance rules at the parent group in July, also wants to remove an article that prevents either of the co-founders from buying publicly-listed shares in InterGlobe and potentially triggering an open offer for the rest of the company. If the shareholders approve the amendments at a Jan. 29 extraordinary general meeting (EGM) requested by Gangwal, he or Bhatia could get a free hand to raise or cut stakes in the company. Shares of InterGlobe, which fell early on Friday due to a spike in oil prices, climbed more than 6% from their lows before settling up 2.1%. "The call for an EGM confirms that Rakesh Gangwal wants to sell his shares in the company," said Sriram Subramaniam, head of InGovern - a shareholder advisory firm, adding it was unlikely the resolutions would pass as they required three-quarters of the shareholder vote. "It will not be surprising if, once the resolutions are defeated, there are claims made of oppression and mismanagement," said Subramaniam, adding this was likely a part of a 'corporate fight playbook'. IGE Group, controlled by Bhatia, did not immediately respond to Reuters' request for comment. If approved, the changes could allow either party to initiate hostile buying of the group's shares in the event the dispute between the founders drags on, said Deepak Jasani, head of retail research at HDFC Securities.

IndiGo co-founder seeks to ease rules on shareholdings in Indian carrier

India's largest airline IndiGo and Qatar Airways will make a strategic business announcement on November&nbsp;7, the two companies said in a statement on Tuesday, sending shares of the budget carrier higher by as much as 4 per cent.

Qatar has in the past shown interest in investing in IndiGo but the Indian airline has resisted.

"We are very interested in IndiGo ... We are talking to IndiGo of doing codeshare, joint flights but not yet an equity stake in the airline," Qatar Airways CEO Akbar Al Baker told Reuters in an interview in August.

Baker said they had talked to IndiGo but the airline was "not yet ready to take a foreign investor". When it is ready, Qatar will be interested, he had said at the time.

It was not immediately clear if the announcement is about a codeshare agreement, stake sale or any other kind of partnership.

Any deal, however, would come at a time when IndiGo's two co-founders, Rakesh Gangwal and Rahul Bhatia, have been embroiled in a dispute about corporate governance of the airline, sparking concerns among investors it could have an impact on the airline's valuation and strategy.

IndiGo, which has about 40 per cent&nbsp;share of the domestic Indian market, is planning an aggressive push into more international destinations. The airline's CEO Ronojoy Dutta and Qatar Airways CEO Al Baker will "talk about the vision and future for both the airlines", they said in the statement.

Last week, IndiGo placed a historic order for 300 Airbus A320neo-family planes, including the newest jet, a long-range version of the single-aisle A320neo family called the A321XLR.

IndiGo flies to 60 international destinations including Turkey, China, Vietnam, Myanmar and Saudi Arabia which it has added earlier this year.

India's largest airline IndiGo and Qatar Airways will make a strategic business announcement on November 7, the two companies said in a statement on Tuesday, sending shares of the budget carrier higher by as much as 4 per cent.

India's largest airline IndiGo and Qatar Airways will make a strategic business announcement on November 7, the two companies said in a statement on Tuesday, sending shares of the budget carrier higher by as much as 4 per cent. Qatar has in the past shown interest in investing in IndiGo but the Indian airline has resisted. "We are very interested in IndiGo ... We are talking to IndiGo of doing codeshare, joint flights but not yet an equity stake in the airline," Qatar Airways CEO Akbar Al Baker told Reuters in an interview in August. Baker said they had talked to IndiGo but the airline was "not yet ready to take a foreign investor". When it is ready, Qatar will be interested, he had said at the time. It was not immediately clear if the announcement is about a codeshare agreement, stake sale or any other kind of partnership. Any deal, however, would come at a time when IndiGo's two co-founders, Rakesh Gangwal and Rahul Bhatia, have been embroiled in a dispute about corporate governance of the airline, sparking concerns among investors it could have an impact on the airline's valuation and strategy. IndiGo, which has about 40 per cent share of the domestic Indian market, is planning an aggressive push into more international destinations. The airline's CEO Ronojoy Dutta and Qatar Airways CEO Al Baker will "talk about the vision and future for both the airlines", they said in the statement. Last week, IndiGo placed a historic order for 300 Airbus A320neo-family planes, including the newest jet, a long-range version of the single-aisle A320neo family called the A321XLR. IndiGo flies to 60 international destinations including Turkey, China, Vietnam, Myanmar and Saudi Arabia which it has added earlier this year.

IndiGo, Qatar Airways to announce strategic deal

Differences between the promoters of the country's largest airline IndiGo came into public on Tuesday with Rakesh Gangwal alleging serious governance lapses by co-founder Rahul Bhatia who had earlier termed his demands as unreasonable.

With the issues brewing for nearly a year, Gangwal has sought markets regulator <a href="https://www.wionews.com/business-economy/indigo-shares-slump-as-co-founder-alleges-misgovernance-234531">Sebi's intervention</a> to address the problems. Now, fearing the impact of the row on employees morale and operations, IndiGo CEO has written a letter to employees. The CEO wrote in the letter that the issues between promoters have "nothing to do" with IndiGo and its functioning. He also said the the airline's "mission, direction and growth strategy remains unchanged, and firmly in place".

As the differences between the founder-partners are a result of fault in IndiGo's existing structure and strategy, including differences pace of expansion, use of aircraft for overseas operations, experts say the ongoing row can lower the morale of the employees and can result in delay in decision making that can impact its overall operations.

Some experts say the promoters' spat could even lead to IndiGo's fall. The differences also stem from the different background of the airline promoters. Gangwal is a veteran aviation professional with rich experience in management positions at top airlines. He is reportedly in favour of aggressive expansion in both Indian and international markets. Bhatia, meanwhile, has a background in travel and hospitality sector and he prefers a cautious approach.

The differences have cropped up on the overseas expansion plans of the airline where Gangwal and Bhatia camps have their own differences. The other point of difference is the use of wide-body aircraft vis-a-vis narrow-body. Gangwal is in favour of narrow-body aircraft like Airbus A-321 Neos for its international operations, and codeshare agreements with other global carriers to cater to long-haul passengers whereas Bhatia sees higher value in wide-bodied aircraft for its international expansion.

The continuing dispute between the promoters is already impacting the share price of the airline and the IndiGo share price is already down by over 11 per cent today.&nbsp;&nbsp;&nbsp;

Differences between the promoters of the country's largest airline IndiGo came into public on Tuesday with Rakesh Gangwal alleging serious governance lapses by co-founder Rahul Bhatia who had earlier termed his demands as unreasonable.

Differences between the promoters of the country's largest airline IndiGo came into public on Tuesday with Rakesh Gangwal alleging serious governance lapses by co-founder Rahul Bhatia who had earlier termed his demands as unreasonable. With the issues brewing for nearly a year, Gangwal has sought markets regulator Sebi's intervention to address the problems. Now, fearing the impact of the row on employees morale and operations, IndiGo CEO has written a letter to employees. The CEO wrote in the letter that the issues between promoters have "nothing to do" with IndiGo and its functioning. He also said the the airline's "mission, direction and growth strategy remains unchanged, and firmly in place". As the differences between the founder-partners are a result of fault in IndiGo's existing structure and strategy, including differences pace of expansion, use of aircraft for overseas operations, experts say the ongoing row can lower the morale of the employees and can result in delay in decision making that can impact its overall operations. Some experts say the promoters' spat could even lead to IndiGo's fall. The differences also stem from the different background of the airline promoters. Gangwal is a veteran aviation professional with rich experience in management positions at top airlines. He is reportedly in favour of aggressive expansion in both Indian and international markets. Bhatia, meanwhile, has a background in travel and hospitality sector and he prefers a cautious approach. The differences have cropped up on the overseas expansion plans of the airline where Gangwal and Bhatia camps have their own differences. The other point of difference is the use of wide-body aircraft vis-a-vis narrow-body. Gangwal is in favour of narrow-body aircraft like Airbus A-321 Neos for its international operations, and codeshare agreements with other global carriers to cater to long-haul passengers whereas Bhatia sees higher value in wide-bodied aircraft for its international expansion. The continuing dispute between the promoters is already impacting the share price of the airline and the IndiGo share price is already down by over 11 per cent today.

As IndiGo feud casts a shadow on operations, CEO writes to employees

IndiGo's Cheif Executive said on Saturday that one of its co-founders has no plans to take control of the carrier amid reports of difference between the two co-founders, reported news agency Reuters.&nbsp;

The CEO's comment comes two days after parent InterGlobe Aviation Ltd shares fell 9 per cent&nbsp;over a media report that the co-founders and two largest shareholders were at odds over its expansion.&nbsp;

The shares were slightly up on Friday.

Co-founders Rahul Bhatia and Rakesh Gangwal, along with their respective families, each control stakes of slightly less than 40 per cent in the airline's holding company, giving them both a major say in its strategy and plans.

"I am authorized by Mr. Rakesh Gangwal to make the following statement on his behalf - 'I am categorically and clearly stating that there is no interest or desire whatsoever on the part of the RG Group to take control of the company'," Ronojoy Dutta, Chief Executive of IndiGo said in a statement.

IndiGo, SpiceJet and GoAir have been rushing to fill the vacuum left by the collapse of Jet Airways, once India's largest carrier, and gain control of its valuable slots.

IndiGo, launched in 2006, has a nearly 47 per cent&nbsp;market share in India. The airline has a fleet of 225 aircraft and flies to more than 70 destinations globally.

IndiGo's Cheif Executive said on Saturday that one of its co-founders has no plans to take control of the carrier amid reports of difference between the two co-founders, reported news agency Reuters.

IndiGo's Cheif Executive said on Saturday that one of its co-founders has no plans to take control of the carrier amid reports of difference between the two co-founders, reported news agency Reuters. The CEO's comment comes two days after parent InterGlobe Aviation Ltd shares fell 9 per cent over a media report that the co-founders and two largest shareholders were at odds over its expansion. The shares were slightly up on Friday. Co-founders Rahul Bhatia and Rakesh Gangwal, along with their respective families, each control stakes of slightly less than 40 per cent in the airline's holding company, giving them both a major say in its strategy and plans. "I am authorized by Mr. Rakesh Gangwal to make the following statement on his behalf - 'I am categorically and clearly stating that there is no interest or desire whatsoever on the part of the RG Group to take control of the company'," Ronojoy Dutta, Chief Executive of IndiGo said in a statement. IndiGo, SpiceJet and GoAir have been rushing to fill the vacuum left by the collapse of Jet Airways, once India's largest carrier, and gain control of its valuable slots. IndiGo, launched in 2006, has a nearly 47 per cent market share in India. The airline has a fleet of 225 aircraft and flies to more than 70 destinations globally.

IndiGo CEO says co-founder has no intention to take control of company

The growth strategy of <a href="https://www.wionews.com/business-economy/dgca-notice-to-indigo-coo-over-pw-engine-conducts-safety-audit-211127">IndiGo</a> remains unchanged and the airline's management has the full backing of the company's board of directors to implement it, said Ronojoy Dutta, CEO, InterGlobe Aviation, in an email to his employees on Thursday.&nbsp;

The email was sent to employees by the CEO as there were various media reports on Thursday morning regarding alleged disagreements between the airline's two promoters - Rahul Bhatia and Rakesh Gangwal.&nbsp;

InterGlobe Aviation owns and manages IndiGo airline, which has around 44 per cent share in the domestic passenger market.&nbsp;

"I want to assure you that the growth strategy of the airline remains unchanged and firmly in place, and the management is fully charged by the Board to implement it," Dutta said in the email.

"I am sure you are all aware of the press reports regarding alleged disagreements between our two promoters Rahul Bhatia and Rakesh Gangwal," he added.&nbsp;

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The CEO said the company would continue its focus on creating value for all shareholders, customers, employees and the communities it serves.

As per the media reports, serious differences have cropped up among the two chief promoters over strategies and ambitions for the airline.

In order to resolve the differences amicably so that it does not affect airline's functioning, Gangwal and Bhatia are taking help from law firms J Sagar Associates and Khatian &amp; Co, respectively, as per the media reports.&nbsp;

IndiGo did not respond to the specific queries sent by the PTI regarding this matter.

While Gangwal owns around 37 per cent share in InterGlobe Aviation, Bhatia has around 38 per cent share in the company that is listed on the Bombay Stock Exchange.&nbsp;

The growth strategy of IndiGo remains unchanged and the airline's management has the full backing of the company's board of directors to implement it, said Ronojoy Dutta, CEO, InterGlobe Aviation, in an email to his employees on Thursday.

The growth strategy of IndiGo remains unchanged and the airline's management has the full backing of the company's board of directors to implement it, said Ronojoy Dutta, CEO, InterGlobe Aviation, in an email to his employees on Thursday. The email was sent to employees by the CEO as there were various media reports on Thursday morning regarding alleged disagreements between the airline's two promoters - Rahul Bhatia and Rakesh Gangwal. InterGlobe Aviation owns and manages IndiGo airline, which has around 44 per cent share in the domestic passenger market. "I want to assure you that the growth strategy of the airline remains unchanged and firmly in place, and the management is fully charged by the Board to implement it," Dutta said in the email. "I am sure you are all aware of the press reports regarding alleged disagreements between our two promoters Rahul Bhatia and Rakesh Gangwal," he added. × The CEO said the company would continue its focus on creating value for all shareholders, customers, employees and the communities it serves. As per the media reports, serious differences have cropped up among the two chief promoters over strategies and ambitions for the airline. In order to resolve the differences amicably so that it does not affect airline's functioning, Gangwal and Bhatia are taking help from law firms J Sagar Associates and Khatian & Co, respectively, as per the media reports. IndiGo did not respond to the specific queries sent by the PTI regarding this matter. While Gangwal owns around 37 per cent share in InterGlobe Aviation, Bhatia has around 38 per cent share in the company that is listed on the Bombay Stock Exchange.

IndiGo management has full backing of board: CEO Ronojoy Dutta after reported disagreement between promoters

InterGlobe Aviation, which operates country's top carrier IndiGo airlines, announced that Aditya Ghosh, the President and whole-time Director of IndiGo has stepped down effective July 31, after being with the company for 10 years.

In a statement issued post a Board meeting held on Friday, the company announced that its Chairman, Rahul Bhatia, will function as the interim Chief Executive Officer (CEO) as well as the Director of the company.

Ghosh said&nbsphe would be resigning in order to take up his "next adventure" and expressed his good wished to the airline for their expansion spree.

The airline Board announced that Ghosh`s resignation as President of the Company would be effective from July 31.

Founded in 2006 by travel entrepreneur Bhatia and Rakesh Gangwal, a former chief executive of US Airways, low-cost IndiGo has grown rapidly to become the country's largest airline with a market share of 39.7 per cent as of end-March.

Ghosh, a trained lawyer, joined the company in 2008.

IndiGo also announced the return of Greg Taylor to the Board of the company as a Senior Advisor.&nbsp

Ghosh, who has been with IndiGo for ten years, announced that he would be resigning in order to take up his "next adventure" and expressed his good wished to the airline for their expansion spree.

InterGlobe Aviation, which operates country's top carrier IndiGo airlines, announced that Aditya Ghosh, the President and whole-time Director of IndiGo has stepped down effective July 31, after being with the company for 10 years. In a statement issued post a Board meeting held on Friday, the company announced that its Chairman, Rahul Bhatia, will function as the interim Chief Executive Officer (CEO) as well as the Director of the company. Ghosh said&nbsphe would be resigning in order to take up his "next adventure" and expressed his good wished to the airline for their expansion spree. The airline Board announced that Ghosh`s resignation as President of the Company would be effective from July 31. Founded in 2006 by travel entrepreneur Bhatia and Rakesh Gangwal, a former chief executive of US Airways, low-cost IndiGo has grown rapidly to become the country's largest airline with a market share of 39.7 per cent as of end-March. Ghosh, a trained lawyer, joined the company in 2008. IndiGo also announced the return of Greg Taylor to the Board of the company as a Senior Advisor.

IndiGo president Aditya Ghosh resigns; Rahul Bhatia named interim CEO

IndiGo co-owner<a href="http://www.wionews.com/india-news/indigo-staff-manhandle-passenger-at-delhis-igi-airport-23691"> Rahul Bhatia met minister for civil aviation minister Ashok Gajapathi Raju</a> in Delhi on Wednesday after a video went viral on social media of a passenger being allegedly manhandled by the airline staff at the Delhi Airport.

The aviation minister has&nbsp;sought a&nbsp;detailed report by IndiGo explaining the incident.&nbsp;IndiGo co

&quot;We have handed over the report to the government and are waiting for a response,&quot;&nbsp;Rahul Bhatia said.

&quot;It would be better if one does not come to any conclusions before the government says anything. After the report, you will know that we have not been sitting silent for the past 21 days,&quot;&nbsp;he added&nbsp;

On whether IndiGo&#39;s image would be tarnished over the incident, Bhatia claimed that he was&nbsp;more worried about the &quot;pollution levels at the moment&quot;.&nbsp;

The IndiGo incident went viral on social media on Tuesday after a video surfaced showing a passenger,&nbsp;Rajiv Katiyal, being&nbsp;manhandled and abused by the airline ground staff after an&nbsp;argument just after alighting from the aircraft.&nbsp;

The incident had taken place last month on&nbsp;October 15.&nbsp;

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<a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a>: IndiGo staff manhandle a passenger at Delhi&#39;s Indira Gandhi International Airport (Note: Strong language) <a href="https://t.co/v2ola0YzqC">pic.twitter.com/v2ola0YzqC</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/927915529163046912?ref_src=twsrc%5Etfw">November 7, 2017</a></blockquote>
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IndiGo co-owner Rahul Bhatia met Minister for Civil Aviation Ashok Gajapathi Raju in New Delhi on Wednesday.?

IndiGo co-owner Rahul Bhatia met minister for civil aviation minister Ashok Gajapathi Raju in Delhi on Wednesday after a video went viral on social media of a passenger being allegedly manhandled by the airline staff at the Delhi Airport. The aviation minister has sought a detailed report by IndiGo explaining the incident. IndiGo co "We have handed over the report to the government and are waiting for a response," Rahul Bhatia said. "It would be better if one does not come to any conclusions before the government says anything. After the report, you will know that we have not been sitting silent for the past 21 days," he added On whether IndiGo's image would be tarnished over the incident, Bhatia claimed that he was more worried about the "pollution levels at the moment". The IndiGo incident went viral on social media on Tuesday after a video surfaced showing a passenger, Rajiv Katiyal, being manhandled and abused by the airline ground staff after an argument just after alighting from the aircraft. The incident had taken place last month on October 15. #WATCH: IndiGo staff manhandle a passenger at Delhi's Indira Gandhi International Airport (Note: Strong language) pic.twitter.com/v2ola0YzqC — ANI (@ANI) November 7, 2017 ×

I am more worried about the pollution than IndiGo's reputation: Co-founder Rahul Bhatia

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