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IndiGo bid to allay concerns

There may be differences but the company has a great track record of resolving issues and coming out ahead: Ronojoy Dutta

By TT Bureau in New Delhi
  • Published 19.05.19, 12:10 AM
  • Updated 19.05.19, 12:10 AM
  • a min read
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While Gangwal owns around 37% share in InterGlobe Aviation, Bhatia has around 38% share in the BSE-listed company. Telegraph file picture

There may be differences between IndiGo promoters Rakesh Gangwal and Rahul Bhatia on certain matters but the company has a great track record of resolving such matters and coming out ahead, the airline’s CEO Ronojoy Dutta said on Saturday.

“If the current differences were to not get resolved, you shall certainly hear about it; however, it serves no purpose speculating about it,” Dutta said in a press release on Saturday evening.

This is a first statement issued by Dutta since Thursday morning when various media reports were published about differences between Bhatia and Gangwal.

“There may be differences currently on certain matters but the company has a great track record of resolving issues and coming out ahead,” he added.

While Gangwal owns around 37 per cent share in InterGlobe Aviation, Bhatia has around 38 per cent share in the BSE-listed company.

Dutta said that Gangwal has authorised him to give a following statement on his behalf: “I am categorically and clearly stating that there is no interest or desire whatsoever on the part of the RG (Rakesh Gangwal) Group to take control of the company.”

According to Dutta, Gangwal said, “Also, to put to rest the messaging on the fact that the RG Group is attempting to renegotiate the shareholders agreement (SHA), I am placing on record that the RG Group stands by the current SHA which, in any case, expires this October.”