Rakesh Gangwal

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Rakesh Gangwal - Total results - 51
SEBI probe suggests prima facie violations of norms in IndiGo related party transactions; shares plunge nearly 5%
Business

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
Business

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.

Amid promoters' spat, IndiGo parent InterGlobe Aviation to hold shareholders' meet on 29 January
Business

Amid promoters' spat, IndiGo parent InterGlobe Aviation to hold shareholders' meet on 29 January

InterGlobe Aviation on Friday said a meeting of shareholders will be convened on January 29 to seek approval for certain changes in the company's articles of association

IndiGo CEO says co-founders' feud has 'zero impact' on company; promoters on same page over airline's strategic direction
Business

IndiGo CEO says co-founders' feud has 'zero impact' on company; promoters on same page over airline's strategic direction

Amid ongoing feud between the airline's promoters, IndiGo CEO Ronojoy Dutta on Thursday said there is "zero impact" on the carrier right now as they are on the same page over the airline's strategic direction

IndiGo close to placing a near-record order for more than 300 Airbus jets worth at least $33 bn
Business

IndiGo close to placing a near-record order for more than 300 Airbus jets worth at least $33 bn

Indian budget airline IndiGo is close to placing a near-record order for more than 300 Airbus A320neo-family jets worth at least $33 billion at recent catalogue prices to cement its position as India’s largest carrier by market share

IndiGo parent-InterGlobe Aviation's shares tumble 12% after company posts Rs 1,062 cr loss in Q2; m-cap drops by Rs 7,633 cr
Business

IndiGo parent-InterGlobe Aviation's shares tumble 12% after company posts Rs 1,062 cr loss in Q2; m-cap drops by Rs 7,633 cr

Shares of InterGlobe Aviation on Friday tumbled 12 percent wiping off more than Rs 7,600 crore from its market valuation after the company posted a substantial loss in the September quarter

InterGlobe Aviation shares tumble 7% after company posts net loss of Rs 1,062 cr for September quarter
Business

InterGlobe Aviation shares tumble 7% after company posts net loss of Rs 1,062 cr for September quarter

After the market hours on Thursday, InterGlobe Aviation posted a net loss of Rs 1,062 crore for the September quarter, mainly on account of higher costs related to operating lease liabilities.

IndiGo parent-InterGlobe Aviation posts Rs 1,062 cr loss in September quarter on higher costs
Business

IndiGo parent-InterGlobe Aviation posts Rs 1,062 cr loss in September quarter on higher costs

IndiGo's parent InterGlobe Aviation on Thursday posted a net loss of Rs 1,062 crore for the September quarter as higher costs and mark-to-market losses took a toll on the bottom line

IndiGo-parent InterGlobe Aviations' shares fall over 2% after co-promoter Rahul Bhatia moves for arbitration proceedings
Business

IndiGo-parent InterGlobe Aviations' shares fall over 2% after co-promoter Rahul Bhatia moves for arbitration proceedings

Shares of IndiGo on Thursday slumped over 2 percent after one of the main promoters Rahul Bhatia moved for arbitration proceedings amid differences with co-promoter Rakesh Gangwal

IndiGo promoter feud: Rahul Bhatia, InterGlobe Enterprises seek arbitration proceedings in London
Business

IndiGo promoter feud: Rahul Bhatia, InterGlobe Enterprises seek arbitration proceedings in London

InterGlobe Aviation is the parent of IndiGo, the country's largest airline in terms of domestic market share

SEBI seeks response from IndiGo on fresh letter by company's co-promoter Rakesh Gangwal
Business

SEBI seeks response from IndiGo on fresh letter by company's co-promoter Rakesh Gangwal

Markets regulator SEBI has sought a response from InterGlobe Aviation on a fresh letter by the company's co-promoter Rakesh Gangwal regarding corporate governance issues

IndiGo promoters spat: Hope Rakesh Gangwal's action will speak louder than words: Rahul Bhatia
Business

IndiGo promoters spat: Hope Rakesh Gangwal's action will speak louder than words: Rahul Bhatia

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
Business

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.

IndiGo corporate governance issue: Independent director Anupam Khanna flags 'tremendous trust deficit'
Business

IndiGo corporate governance issue: Independent director Anupam Khanna flags 'tremendous trust deficit'

The email from Anupam Khanna—who is also chairman of the NRC—was disclosed by Rakesh Gangwal on Wednesday

Rakesh Gangwal's fear of Bhatia group pushing questionable decisions does no credit to directors: IndiGo chairman M Damodaran
Business

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 promoters spat: Rakesh Gangwal denies reports of truce with co-founder Rahul Bhatia, says issues remain unsolved
Business

IndiGo promoters spat: Rakesh Gangwal denies reports of truce with co-founder Rahul Bhatia, says issues remain unsolved

In a letter here dated 5 August, Gangwal told the board of IndiGo's parent InterGlobe Aviation Ltd (IGAL) that issues between him and Bhatia remained unresolved.

IndiGo promoters' feud deepens: Provided information on related party transactions to authorities, says Rakesh Gangwal
Business

IndiGo promoters' feud deepens: Provided information on related party transactions to authorities, says Rakesh Gangwal

IndiGo has been witnessing a divide between the two promoters, Rahul Bhatia and Rakesh Gangwal, since last year

IndiGo parent InterGlobe Aviation's shares up nearly 4% after company posts highest-ever profit in Q1
Business

IndiGo parent InterGlobe Aviation's shares up nearly 4% after company posts highest-ever profit in Q1

Shares of InterGlobe Aviation rose nearly 4 percent on Monday after the company posted its highest-ever quarterly profit of Rs 1,203.14 crore for the three months ended June

SEBI needs more funds, not less; govt move to suck out regulator funds comes amid a corporate governance crisis
Business

SEBI needs more funds, not less; govt move to suck out regulator funds comes amid a corporate governance crisis

The Finance Ministry's Budget proposal to suck out to the Centre's kitty a quarter of SEBI's surplus every year is against the grain because what India needs badly now is a culture of progressive corporate governance, on which SEBI has barely scratched the surface