InterGlobe Aviation shares fall nearly 2% after SEBI finds violations in corporate governance, listing disclosure norms

InterGlobe Aviation has not received any communication from the markets regulator Securities and Exchange Board of India (SEBI), it said in a clarification to the exchanges.

Press Trust of India February 26, 2020 12:45:05 IST
InterGlobe Aviation shares fall nearly 2% after SEBI finds violations in corporate governance, listing disclosure norms
  • The stock fell 1.74 percent to Rs 1,352.65 on the BSE and on the NSE, it fell 1.87 percent to Rs 1,351.10 per unit

  • A preliminary probe has now suggested violation of certain listing disclosure norms as also of fair corporate governance practices at the company

  • The company has been facing a probe by SEBI ever since a public spat came to light between two founders of the airline

New Delhi: Shares of InterGlobe Aviation on Wednesday fell nearly 2 percent amid reports that SEBI has found violations in corporate governance and listing disclosure norms of the company.

InterGlobe Aviation shares fall nearly 2 after SEBI finds violations in corporate governance listing disclosure norms

Representational image. Reuters

However, InterGlobe Aviation, the parent company of low-cost airline IndiGo, has denied the allegations and termed the reports as "factually incorrect".

InterGlobe Aviation has not received any communication from the markets regulator Securities and Exchange Board of India (SEBI), it said in a clarification to the exchanges.

The stock fell 1.74 percent to Rs 1,352.65 on the BSE. On the NSE, it fell 1.87 percent to Rs 1,351.10 per unit.

The company has been facing a probe by SEBI ever since a public spat came to light between two founders of the airline, including over certain related party transactions involving one of the warring promoters.

Sources said that a preliminary probe has now suggested violation of certain listing disclosure norms as also of fair corporate governance practices at the company.

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