InterGlobe moves Sebi to settle violations

Things between Gangwal and his friend-turned-estranged partner Bhatia got ugly in recent years and their disputes reached various fora including the Indian Prime Minister’s office and the arbitration court in London.

Synopsis
A consent application is an out-of-court settlement over securities law violations. It is negotiated between the regulator and the entity concerned, without admission of guilt and without denial of liabilities, and involves the payment of a fee.

Mumbai: InterGlobe Aviation, operator of the country’s largest airline IndiGo, has filed a consent application with the Securities and Exchange Board of India (Sebi) for settling securities law violations. The regulator had issued show cause notice to InterGlobe asking why action should not be taken against it for alleged non-disclosures of related-party transactions by it under listing regulations and for questionable corporate governance

Reena Zachariah

ET Bureau

3 mins read

Feb 9, 2021, 07:41 AM IST

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