In his mail to the former Securities and Exchange Board of India (Sebi) chairman, Khanna also questioned Damodaran’s call for meetings of the board
IndiGo’s independent director Anupam Khanna has called upon chairman M Damodaran to come up with “confidence-building measures” to remove the “trust deficit” that has built up in the board of India’s largest airline.
In his mail to the former Securities and Exchange Board of India (Sebi) chairman, Khanna also questioned Damodaran’s call for meetings of the board, as well as audit and remuneration committees after IndiGo‘s annual general meeting (AGM) later this month, to resolve governance issues. The mail was shared by co-founder Rakesh Gangwal on August 7.
Damodaran’s suggestion was against what was proposed by Gangwal, who had alleged that the new proposed structure of the board will only add to the powers already enjoyed by InterGlobe Enterprises (IGE), owned by fellow co-founder Rahul Bhatia. And if the proposed structure was cleared at the AGM, it would lead to further governance issues, Gangwal had argued. He wanted the steps to be taken before the AGM…
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