Bhatia has moved the London Court of International Arbitration (LCIA) in New Delhi on October 1 in his allegations of Gangwal’s breach of the contract.
Raymond Thursday announced the demerger of its core lifestyle business which will create two separate companies—the new one housing the core branded textile, branded apparel and garmenting businesses and the existing one to have its new real estate project, land bank, engineering businesses of auto components and FMCG businesses among others.
IndiGo posted a 31% increase in its revenue from operations to Rs 8,105 crore.
Bhatia has filed the plea seeking information about Gangwal’s alleged breach of shareholders' agreement.
The feud between IndiGo founders, Rahul Bhatia and Rakesh Gangwal has now reached US courts where the former is seeking a legal order from a Maryland court to retrieve correspondence from IndiGo independent director Anupam Khanna.
Asa Hutchinson's visit comes in the backdrop of US president Donald Trump’s constant criticism of what he calls high tariff rates on US products
InterGlobe Aviation is the parent of IndiGo, the country's largest airline in terms of domestic market share.
Gupta had earlier been the CFO of Emami Agrotech Ltd and global finance director at Unilever Asia in Singapore.
The deal will bring Rs 8,500 crore to the company.
The company is also interested in taking up an airport expansion project in Indonesia.
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