IndiGo promoters' war: No listing norm violation, Bhatia may tell Sebi

Rahul Bhatia-founded InterGlobe Enterprises (IGE) is expected to tell the Securities and Exchange Board of India (Sebi) that the articles of mutual agreement signed with IndiGo co-promoter Rakesh Gangwal have been recognised in the market watchdog’s listing and disclosure regulations as having the force of law. Under the mutual agreement, control is vested with the IGE group. The company has to submit its reply before the July 19 board meeting of Sebi.  Gangwal had recently approached Sebi, raising concerns linked to lapses in corporate governance at IndiGo, blaming co-promote.....

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