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‘InterGlobe gets Sebi show-cause notice’

‘InterGlobe gets Sebi show-cause notice’
‘InterGlobe gets Sebi show-cause notice’
Gangwal and his associates hold about 37% in InterGlobe, while Bhatia’s IGE holds over 38% stake.

Synopsis

Sebi started investigating IndiGo after co-founder Rakesh Gangwal complained to it last year, alleging violation of governance norms by Rahul Bhatia, the other co-founder.

Mumbai: The Securities and Exchange Board of India (Sebi) has issued a show cause notice to InterGlobe Aviation, operator of the country’s largest airline IndiGo, for violation of securities laws, said two people familiar with the development. The capital markets regulator in its notice has alleged non-disclosures by the company under the listing regulations and violation of corporate governance norms.InterGlobe has been accused of violating
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