IndiGo nixes reports of rift between major shareholders

IndiGo CE Ronojoy Dutta has dismissed as “baseless speculation” reports of a rift between its 2 major shareholders, Rahul Bhatia and Rakesh Gangwal. He took the extraordinary step of issuing a lengthy statement May 18 to address several reports circulating in the Indian media that the 2 shareholders are taking legal advice to resolve a dispute. “These reports have in turn fuelled further speculation as to what those areas of disagreements could be including future direction of the company, management changes, control issues and the like. I would like to forcefully address these baseless speculations as they are not in the best interests of our shareholders, our employees and the travelling public,” Dutta says. <br/>