Live
- BJP releases ‘charge sheet’ against BJD govt
- District Nodal Officer Venkataramana announced the intermediate results
- She team that stopped child marriages
- Medical devices sector needs separate rules, says industry body AiMeD
- Andhra Paper declares lockout
- Opposition INDIA bloc working on 'one year, one PM' formula: PM Modi
- Delhi HC quashes FIR for outraging woman's modesty, orders man to assist Traffic Police for a month as settlement
- 'Apologise to families of farmers who committed suicide in Vidarbha', Amit Shah dares Sharad Pawar
- SC Collegium recommends appointment of a permanent judge in Chhattisgarh HC, extension of term of two judges
- U20 Men's football nationals: Telangana, Sikkim earn full points with easy win
IndiGo stock down 2% on arbitration proceedings
Shares of IndiGo on Thursday slumped over 2 per cent after one of the main promoters Rahul Bhatia moved for arbitration proceedings amid differences with co-promoter Rakesh Gangwal.
New Delhi: Shares of IndiGo on Thursday slumped over 2 per cent after one of the main promoters Rahul Bhatia moved for arbitration proceedings amid differences with co-promoter Rakesh Gangwal.
The airline stock declined 2.22 per cent at Rs 1829.35, on the BSE. On the NSE, the scrip plummeted 2.13 per cent at Rs 1,830.
On Tuesday, InterGlobe Aviation -- parent of the country's largest airline IndiGo -- informed stock exchanges that Bhatia and his group InterGlobe Enterprises have submitted a request for arbitration on October 1 to the London Court of International Arbitration.
The request has been submitted under the shareholders' agreement, dated April 23, 2015. The pact was amended on September 17, 2015, the filing had said.
The agreement was executed between Bhatia's InterGlobe Enterprises Group (IGE Group), Gangwal, the Chinkerpoo Family Trust, Shobha Gangwal -- the RG Group -- and InterGlobe Aviation Ltd.
