Indigo promoter Rakesh Gangwal sets up website for relevant updates, airline calls it unauthorised

Rakesh Gangwal stated in his letter of August 5, 2019 that he has set up a website to update “relevant information” as needed.

New Delhi: InterGlobe Aviation that owns and manages IndiGo airline on Tuesday clarified that promoter Rakesh Gangwal's claims that he has sets up website for updates on airline, is unauthorised.

Gangwal stated in his letter of August 5, 2019 that he has set up a website to update “relevant information” as needed.

In a letter to the both the BSE and NSE, Indigo has clarified, “Please  note  that  this  website  has  not  been  approved or authorized by the Company and no reliance should be placed on the contents of this website as it may contain incomplete and therefore misleading information”.

Meanwhile, Gangwal in the letter wrote that he is “no longer in a position to vote affirmatively on the special resolution for "Alteration in Articles of Association of the Company", unless, as discussed in numerous emails, (i) a complementary Board resolution is passed to prevent IGE Group from getting even more rights and abilities than they have today and (ii) the new RPT policy is  adopted, language for which has already been agreed.”

Refuting truce with co-promoter Rahul Bhatia, Gangwal said, “The AGM notice, along with "unnamed sources" having planted press reports that the Chairman has brokered peace and matters have been resolved, leaves a misleading and false impression that issues on RPTs and changes to the Articles have the support of both promoter groups.”