INSUBCONTINENT EXCLUSIVE:
Shares of InterGlobe Aviation on Wednesday fell nearly 2 per cent amid reports that Sebi has found violations in corporate governance and
listing disclosure norms of the company
However, InterGlobe Aviation, the parent company of low-cost airline IndiGo, has denied the allegations and termed the reports as "factually
incorrect".
The company has not received any communication from the markets regulator Securities and Exchange Board of India (Sebi), it said
in a clarification to the exchanges.
The stock fell 1.74 per cent to Rs 1,352.65 on the BSE
On the NSE, it fell 1.87 per cent to Rs 1,351.10 per unit.
The company has been facing a probe by Sebi ever since a public spat came to
light between two founders of the airline, including over certain related party transactions involving one of the warring promoters.
Sources
said that a preliminary probe has now suggested violation of certain listing disclosure norms as also of fair corporate governance practices