The Ministry of Corporate Affairs (MCA) has not initiated any action in the ongoing feud of IndiGo promoters. Sources in the MCA said, "So far no inquiry has been initiated by the ministry or the Registrar of Companies, Delhi". On July 8, the co-promoter of IndiGo Rakesh Gangwal had written a letter to Sebi chief Ajay Tyagi, Board member G Mahalingam, ED and CGM of the market regulator's investigation department. The copy of the letter was also marked to Injeti Srinivas, who is Corporate Affairs Secretary.

Sources in the MCA said "not a single complaint on the violation of Companies Act against Inter Globe Aviation or the promoters has reached RoC, Delhi. If there is any complaint received by the RoC, they will seek a response from the company and management". Sources in MCA pointed out that the main concern raised by co-promoter Rakesh Gangwal is related to corporate governance and related party transactions, which is already being looked after by Sebi.

On the allegation of one-sided shareholder agreement and Article of Association (AoA), officials in the MCA are of the view that its an internal issue of the company, and it is up to shareholders to amend if they don't find it in their interest. The same can be amended by a special resolution, which requires 75% voting.

Rakesh Gangwal had raised various issues of related party transaction and corporate governance.

Related party transaction issues were mainly on a lease of real estate, training services, GSA (general sales agent) as well as crew accommodation.

Gangwal also raised the issue of corporate governance citing that Rahul Bhatia group had the right to appoint three out of six directors in the company, appoint a chairman of the group, right to nominate and appoint the MD, CEO and president. Also, the voting arrangement requires Rakesh Gangwal and affiliates to vote alongside the Rahul Bhatia group on the appointment of directors.

On the allegations of Rakesh Gangwal on issues of related party transactions, Rahul Bhatia group had clarified that there was no undue advantage taken and most of the deals were at favourable rates to InterGlobe Aviation and in some cases, there were capacity issues in the market. Rahul Bhatia group said that no major lapse was found by EY and the audit committee.

On the corporate governance issues, Rahul Bhatia group had said that share purchase agreement was amended twice at the insistence of Rakesh Gangwal, and no questions were raised then. Rahul Bhatia camp also claims that it took the maximum risk in running the airline.

Sebi had sought a response from the company on allegations of Rakesh Gangwal by July 19. Meanwhile, the Board of Inter Globe Aviation, the promoter company of low-cost airline firm IndiGo, is also meeting on July 19 to consider the results.