Business

‘Have given info on related party issues to authorities’

more-in

IndiGo’s Gangwal says Bhatia hiding behind ‘veil of sources’

Rakesh Gangwal, co-founder and shareholder in InterGlobe Aviation Ltd., which owns and operates IndiGo, has lashed out at Rahul Bhatia, the other promoter, and his IGE Group, urging him not to ‘plant’ stories in the media under the garb of sources.

Mr. Gangwal who stays in the U.S., said in a statement: “Many misleading news articles keep getting planted from so-called sources and I largely ignore most of them. However, a news article published on July 29, 2019 caught my attention, where the reporting went on to say: The IGE Group has also said there is not a shred of evidence to substantiate allegations on related-party transactions between the airline and IGE because there are no whistleblowers as claimed by Gangwal. The person added that regulators had been seeking similar information for the past 10 days and none has been forthcoming.”

Mr. Gangwal added, “To address this canard, please note that that I have provided this information to the relevant authorities. I wish people had the conviction to be quoted and not hide behind the veil of so called unnamed ‘sources’ to spread a false narrative in the media.”

A text message to a senior executive of InterGlobe Enterprises remained unanswered till the time of going to press. A person close to Mr. Gangwal said “a lot of people are mounting a misinformation and character assassination campaign to demean Mr. Gangwal in the eyes of the public.”

Why you should pay for quality journalism - Click to know more

Related Topics Industry Business
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Dec 9, 2019 8:45:52 PM | https://www.thehindu.com/business/have-given-info-on-related-party-issues-to-authorities/article28763095.ece

Next Story