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

IndiGo row: RG Group which is controlled by InterGlobe Aviation co-founder Rakesh Gangwal did not support the board's decision to place such a large order with CFM.

Rakesh Gangwal, one of the promoters of IndiGo, on Tuesday alleged serious governance lapses by its co-founder Rahul Bhatia, who had earlier termed his demands as unreasonable

Bhatia's wrote this letter to the IndiGo board and the company secretary on June 12 after Gangwal had sought to convene an extraordinary general meeting of the company

Gangwal flags serious corporate governance lapses at the company and says even a 'paan ki dukaan' (betel shop) would have managed matters with more grace

Share Market Update: Top index gainers in NSE pack today were Zee Entertainment, ONGC, YES Bank, Tata Motors and JSW Steel. Top losers of today's closing session were Indiabulls Housing Finance, Sun Pharma, M&M, Dr. Reddy and Tech Mahindra.

Share Market Live: IT, Media and Metal were among the most gaining indices of the day, each gaining over 1%, followed by Energy and Realty indices. On the other hand, Bank indices and Financial Services were biggest losers in today's trade, declining over 1%, followed by declines in Auto, Infra and FMCG stocks.

Crucial differences include pace of expansion, use of aircraft for overseas operations and recent management changes; it seems Gangwal's signature is written all over IndiGo's current strategy

IndiGo CEO soothes nerves after promoter dispute crashes stock, BMW launches new X5 SUV, to roll out more models this year, Trump terminates designation of Turkey as GSP beneficiary nation, and more news on the News Blast.

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

IndiGo CEO Ronojoy Dutta assures employees that the growth strategy of the airline is fully in place, and the management is fully charged by the board to implement it

The concern to save the embattled Jet Airways is common all around, the suggestions to this end from various quarters are different though

There is every likelihood of new bidders or investors beating down the price or the valuation of the troubled airline, which has grounded most of its planes. At last count, it had only 20 planes in its operational fleet as compared to 120 in good times.

The recent Supreme Court ruling that struck down the RBI's February 12 circular - outlining a revised framework for resolution of stressed assets - may throw a spanner in the works for the airline already battling crises on multiple fronts

Corporate czars are looking to acquire stressed assets of India's dozen big defaulters. A look at what that means for industry and banks.