IndiGo says all third party deal clean, Gangwal skips AGM

New Delhi: Amid signs of truce between its warring promoters, InterGlobe Aviation, which runs private airline IndiGo, on Tuesday told shareholders in the annual general meeting (AGM) that all the related party transactions (RPTs) are at an arm's length.

Airline co-promoter Rakesh Gangwal, who earlier questioned the RPTs and sought action by market regulator Sebi, did not attend the crucial meeting. Independent Director Anupam Khanna, who has supported Gangwal on the contentious issue, was also absent.

InterGlobe shares closed at Rs 1,649 a piece, 1.85 per cent lower over the previous close on the BSE on Tuesday.

Responding to shareholders' query on the issue, IndiGo CEO Ronojoy Dutta said that value of RPTs that the company has signed with co-promoter Rahul Bhatia's firms is about Rs 156 crore and accounted for less than 1 per cent of the company's total revenues of Rs 30,000 crore.