IndiGo Shares Drop Over 7% on Reports of Rift Between Promoters

IndiGo Shares Drop Over 7% on Reports of Rift Between Promoters
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– According to reports The two, Rahul Bhatia and Rakesh Gangwal, have hired legal firms for dispute resolution

– It is learnt that the differences between the two co-founders are over Bhatia possibly feeling that Gangwal was trying to gain greater control of the airline by bringing his own team

– Rahul Bhatia and Rakesh Gangwal have hired JSA Law and Khaitan and Co., respectively

– The news of the rift comes against the backdrop of the current turmoil in Jet Airways, which has temporarily shut operations and hit the Indian aviation market hard

– Rahul Bhatia has a family stake of 38.26% in IndiGo, while Rakesh Gangwal, along with his family, owns 36.69% in the low-cost carrier, which has a market capitalization of Rs 61,833 crore

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