InterGlobe aviation tumbles ~4%; Rahul Bhatia assumes Board

21 Mar 2022 , 03:49 PM

InterGlobe Aviation’s (IndiGo) counter fell 4.17% in today’s trade to close at Rs1817.90 against the previous close of Rs1,897.05 on the National Stock Exchange.

The company’s filing with the exchanges approving the appointment of Mr. Rahul Bhatia as the Managing Director by the members through an Ordinary Resolution. The company informed Rahul Bhatia has been appointed for five years effective from February 4, 2022, not liable to retire by rotation.

It further stated, “Mr. Bhatia will not draw any remuneration from the Company during his tenure as the Managing Director of the Company, other than the benefits, amenities, and perquisites to which he is entitled as per the rules of the Company, as applicable from time to time, subject to the limits specified in Schedule V to the Act.”