Budget airline IndiGo said on Tuesday that its promoters InterGlobe Enterprises (IGE) and Rahul Bhatia have approached the London Court of International Arbitration to settle a dispute with another promoter Rakesh Gangwal under the shareholders agreement. According to a regulatory filing on the Bombay Stock Exchange (BSE), IndiGo said that it had been named as a respondent "as it is a party to the shareholders agreement".
"We hereby inform you that InterGlobe Enterprises Private Limited and Rahul Bhatia, as claimants, have submitted a Request for Arbitration dated October 1, 2019 to the London Court of International Arbitration under the shareholders agreement dated April 23, 2015 executed between, inter-alia, the IGE Group, Rakesh Gangwal, The Chinkerpoo Family Trust, Shobha Gangwal and InterGlobe Aviation Limited," the airline said.
The IGE Group and the RG Group are promoters of the company, which has been named as a respondent, it added.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
