Rahul Bhatia of InterGlobe Enterprises says has signed agreement to take part in sale of Virgin Australia
Virgin Australia collapsed on 21 April, putting 16,000 jobs under threat.
Virgin Australia is one of the first major airlines to seek bankruptcy protection in response to the pandemic
SEBI probe suggests prima facie violations of norms in IndiGo related party transactions; shares plunge nearly 5%
IndiGo has been facing a probe by the 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.
IndiGo parent InterGlobe Aviation shares drop nearly 4% after shareholders reject co-promoter Rakesh Gangwal's proposal
As per the AoA, if any member of Bhatia-led IGE Group wants to transfer shares to a third party, then the non-transferring group will have the 'Right of First Refusal' subject to certain conditions.
IndiGo reports biggest quarterly loss of Rs 1,062 cr due to high maintenance costs; cuts expansion targets
IndiGo is the country's largest airline in terms of domestic market share
InterGlobe Aviation is the parent of IndiGo, the country's largest airline in terms of domestic market share
In the letter to SEBI, Gangwal mentioned multiple issues, including various related party transactions (RPTs) of IndiGo with Bhatia group's company, InterGlobe Enterprises.
IndiGo promoters spat: Govt to examine if issues in airline are management dispute or companies law violation
The ministry, which is implementing the companies law, has sought information from InterGlobe Aviation -- the parent of IndiGo — after Gangwal raised red flags in July.
Rakesh Gangwal's fear of Bhatia group pushing questionable decisions does no credit to directors: IndiGo chairman M Damodaran
Amid the ongoing feud between promoters, IndiGo Chairman M Damodaran has said Rakesh Gangwal's apprehension that Rahul Bhatia's group could push through questionable decisions after board expansion does no credit to the fiduciary responsibilities of directors
IndiGo parent firm InterGlobe Aviation to put in place new policy on related party transactions amid promoters' feud
RPTs involving Bhatia's InterGlobe Enterprises was one of the issues flagged by Gangwal in his letter.
According to a statement, IGE Group continued to support the startup (IndiGo) without diluting Gangwal's potential upside.
IndiGo crisis: Rift between promoters Rakesh Gangwal and Rahul Bhatia makes airline miss out on opportunities
The IndiGo CEO, Ronojoy Datta, in the meanwhile has neither addressed not declined that problems exist, which might be a tacit admission in disguise.
InterGlobe Hotels was established in 2004 for development of the 'ibis' network of hotels in India, Nepal, Sri Lanka and Bangladesh
Of the $1.39 billion invested in July this year, $608.52 million was the equity capital, $406.74 million was through loan and $371.86 million came in the form of issuance of guarantees.
India's biggest airline, IndiGo, is likely to file the prospectus for a stock market listing that will raise around $400 million later on Tuesday, two banking sources with knowledge of the matter said.
IndiGo has picked Citigroup, Kotak Investment Banking, Morgan Stanley and JP Morgan Chase as lead managers for the listing, as well as UBS and Barclays, two of the sources said.