Paan ki dukaan has done well:Rahul Bhatia group

New Delhi: Terming co-founder Rakesh Gangwal's allegations of governance lapses at InterGlobe Aviation as much ado about nothing, Rahul Bhatia's group said the company is well run, financially sound and managed by a competent set of managers.

Asserting that "pan ki dukaan" (betel shop) has apparently done well, InterGlobe Enterprises said there was no abuse of rights and Gangwal's proposal for convening an Extraordinary General Meeting (EGM) was rejected on the basis of a legal opinion obtained by the board of InterGlobe Aviation.

In the notice for proposed EGM, Gangwal had said that events go "far beyond just poor governance and even a "paan ki dukaan would have handled these matters with more grace". InterGlobe Aviation is the parent of the country's largest airline IndiGo, which has a domestic market share of 49%.

"Corporate governance is not about levelling baseless charges. It is about ensuring that the company's interests as also those of other stakeholders are protected and not harmed," InterGlobe Enterprises said in a statement. This is the second time in 3 days that Bhatia camp has issued a statement.

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