31 July 2019
Mumbai: IndiGo's co-founder and Director Rakesh Gangwal on Tuesday said that he has provided "information to the relevant authorities" regarding governance issues at the airline.
In a statement, Gangwal rebutted a report that cited sources as claiming that the regulator has sought information regarding his allegations over the governance issues.
"... please note that I have provided this information to the relevant authorities. I wish people had the conviction to be quoted and not hide behind the veil of so-called unnamed 'sources'...," he was quoted as saying in the statement.
The development comes after a media report quoting sources said that there is not a shred of evidence to substantiate allegations on related-party transactions between the airline and Rahul Bhatia-controlled IGE because there are no whistleblowers as claimed by Gangwal.
The report added that regulators had been seeking similar information for the past 10 days and none has been forthcoming. Lately, Gangwal has raised grievances regarding corporate governance at the airline with government agencies.
Accordingly, the Corporate Affairs Ministry sought "information or explanation" from the budget carrier pertaining to a complaint filed by Gangwal.
In a BSE regulatory filing on July 18, the company said: "... the company has received a communication from the Ministry of Corporate Affairs... requiring the company to furnish certain information or explanations pursuant to Section 206(4) of the Companies Act, 2013, in relation to complaint dated July 8, 2019 received from Rakesh Gangwal, co-founder and Director of the company."
"The company will respond to MCA within the prescribed period."
Earlier, market regulator SEBI sought a response from the carrier on the alleged grievances raised by Gangwal.