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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Niqab incident: Nitish Kumar perhaps revealing his true colours, says J-K CM
Srinagar (PTI): Jammu and Kashmir Chief Minister Omar Abdullah on Wednesday criticised his Bihar counterpart over the niqab incident and said that Nitish Kumar might be slowly revealing his true nature.
"Nitish Kumar, who was once considered a secular leader, may be slowly showing his true colours," Abdullah told reporters here on the sidelines of a function.
Abdullah said Kumar removing the face veil of a Muslim woman doctor was wrong and cannot be justified by any means.
"We have seen this kind of incident here several years ago. Have you forgotten how Mehbooba Mufti removed the burqa of a legitimate voter inside a polling station? That act was wrong, and this act (of Kumar) is also wrong.
"If the (Bihar) chief minister did not want to hand over the order to her (Muslim woman), they could have kept her aside. However, to humiliate her like this is totally wrong," the Jammu and Kashmir chief minister said.
Kumar stirred a huge controversy after he removed the face veil of a Muslim woman at a function earlier this week.
