Indigo Chief Finance Officer Rohit Philip resigns, Aditya Pandey will take charge from September 16.
Rohit Philip, chief finance officer of IndiGo, the country’s largest airline, has resigned. The company gave this information on Friday. IndiGo parent company Inter Globe Aviation said in a briefing to the stock markets that they will be replaced by Aditya Pandey. He will take up his term on 16 September. Philip’s resignation will take effect from 15 September.
Letter to SEBI
A letter to SEBI is under dispute between the two founders of Indigo Airlines, Rakesh Gangwal A and Rahul Bhatia. Gangwal had written a letter to the Securities and Exchange Board of India (SEBI) in July this year, urging the regulator to intervene, referring to the flaws in the company’s operations. However, the Bhatia group rejected his allegations.
In the letter to SEBI, Gangwal had mentioned a number of issues. These include the issue of various related party transactions (RPTs) with Indiglobe Enterprises of IndiGo’s Bhatia Group company. Gangwal alleged that the RPT was executed without the approval of the Audit Committee and without seeking competitive bidding from third parties.