IndiGo CE admits to differences between promotors of airline
The differences between promoters of IndiGo pertain to related party transactions (RPTs), the airline's CE Ronojoy Dutta said Tuesday. According to Dutta, Rakesh Gangwal is seeking changes to the RPT process that allow Rahul Bhatia-controlled firms to charge the airline for its services. “It’s an agreement issue between the two promoters. It has got to do with the RPTs,” Dutta explained. A related-party transaction is a deal or arrangement between two parties, who are joined by a pre-existing business relationship. Dutta said the value of RPTs was around US$30m during 2017-18. “The value of RPTs have come down to around $20m in FY19. It is an administrative issue, and has nothing to do with the shareholders’ agreement or the Article of Association,” Dutta added. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-06-26/unaligned/indigo-ce-admits-to-differences-between-promotors-of-airline
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IndiGo CE admits to differences between promotors of airline
The differences between promoters of IndiGo pertain to related party transactions (RPTs), the airline's CE Ronojoy Dutta said Tuesday. According to Dutta, Rakesh Gangwal is seeking changes to the RPT process that allow Rahul Bhatia-controlled firms to charge the airline for its services. “It’s an agreement issue between the two promoters. It has got to do with the RPTs,” Dutta explained. A related-party transaction is a deal or arrangement between two parties, who are joined by a pre-existing business relationship. Dutta said the value of RPTs was around US$30m during 2017-18. “The value of RPTs have come down to around $20m in FY19. It is an administrative issue, and has nothing to do with the shareholders’ agreement or the Article of Association,” Dutta added. <br/>
