The ministry's communication comes less than 10 days after Gangwal flagged concerns about corporate governance lapses at InterGlobe Aviation, especially certain related party transactions entered into by co-founder Rahul Bhatia's InterGlobe Enterprises (IGE) Group

While the MCA wants IndiGo to respond point-by-point to the 10 issues raised by Rakesh Gangwal, SEBI has directed it to submit the EY report on related-party transactions as well as the shareholders' agreement

During the same period in 2018, the airline had secured the total credit facility worth Rs 778 crore from Kotak Mahindra Bank and HSBC on MF investments and lien on its FDs

IndiGo row: In its third statement in less than a week, Bhatia's IGE Group provided details about investments made by the two sides in the airline, alleging that the risk ratio was almost 80:1 between itself and co-founder Rakesh Gangwal at one point

Rahul Bhatia said that there was not any abuse of rights and Gangwal's proposal for convening an Extraordinary General Meeting (EGM) was rejected on the basis of a legal opinion obtained by IndiGo board

IndiGo co-founder Rakesh Gangwal has cited the board's rejection of his request for an Extraordinary General Meeting of shareholders as one of the examples of the collapsing corporate governance standards\" at the airline. Here's a look at the events that led him to knock on SEBI's door.

In a letter to Sebi chairman Ajay Tyagi, Gangwal alleged several violations at IndiGo including breach of corporate governance regulations, code of conduct, and appointment of senior management personnel

The share price of InterGlobe Aviation, IndiGo's parent firm, dived over 17 per cent on Wednesday, a day after Gangwal complained about serious corporate governance lapses at the company

The billionaire Gautam Adani-led firm's turnover increased by 24 per cent to Rs 494 crore

Share Market Live: Benchmark indices Sensex and Nifty ended on a positive note on Monday, driven by gains in banking stocks amid unabated foreign fund inflow, amid higher Asian markets.

Although the co-founders of the airline, Rahul Bhatia and Rakesh Gangwal, have a nearly equal stake in the airline, the shareholders' agreement in slanted in favour of the former. This, along with their divergent views on IndiGo's expansion, has caused the rift between the promoters

Share Market Updates: Shedding gains of the trading session Wednesday, benchmark indices closed in the red. Other major indices gave up all intraday gains to turn negative in trade as well.

Share Market Updates: On the sectoralfront, Oil & Gas, Energy and Realty indices were among the major losers.  However, IT sector continued to outperformafter rupee slips against US dollar.

Share Market Update: RIL, Wipro, Tech Mahindra, ICICI Bank, SpiceJet, Interglobe Aviation, HDFC, HDFC Bank, were the major gainers in the indices, while Jet Airways, Infosys, TCS and Hindalco were among top laggards.

Sensex loses 192 points to 38,684, Nifty falls 46 points to 11,598.