Co-promoter Gangwal resigns from IndiGo board; will gradually reduce stake in airline over 5 years
New Delhi, Feb 18: IndiGo's co-promoter Rakesh Gangwal on Friday resigned from the board of directors of parent company InterGlobe Aviation, stating that he will gradually reduce the equity stake in the airline over the next five years.
Gangwal and his related entities own around 37 per cent stake in this company. Rahul Bhatia and his related entities own around 38 per cent in InterGlobe Aviation.
"I have been a long-term shareholder in the company for more than 15 years and it's only natural to someday think about diversifying one's holdings," Gangwal said in his letter to the board members.
"Accordingly, my current intention is to slowly reduce my equity stake in the company over the next five plus years," he added.
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11 more bodies retrieved from Arunachal accident site
Itanagar (PTI): Eleven more bodies were retrieved on Saturday from the deep gorge in Arunachal Pradesh's Anjaw district, where a mini-truck on which 22 labourers from Assam were travelling fell, an official said.
With this, 17 bodies have been recovered from the accident site, Anjaw's deputy commissioner Milo Kojin said.
He said three more bodies will be brought out on Sunday.
The operation, being conducted by a joint team of the NDRF and Army, resumed at 6 am.
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"The retrieval process was extremely difficult because of the treacherous terrain, and the gorge is very deep," Kojin said.
The operation was suspended around 4 pm due to low visibility and will be resumed on Sunday morning, he said.
"One person is still missing, and a search operation will be carried out tomorrow," he added.
The accident happened on the evening of December 8, around 40 km from Hayuliang towards Chaglagam in the district. On the evening of December 10, one survivor managed to climb out of the gorge and reach a nearby Border Roads Task Force (BRTF) labour camp, following which the authorities were alerted.
Six bodies were recovered from the gorge on Friday and handed over to their families on Saturday.
