The scrip of InterGlobe Aviation fell nearly 5 per cent Monday amid a slew of negative news surrounding the airline, including allegations of governance lapses.
The scrip declined 4.17 per cent to Rs 1,300 on the BSE.
On the NSE, shares dropped by 4.64 per cent to Rs 1,293.85.
InterGlobe Aviation is the parent of IndiGo.
With promoter spat intensifying at the airline, markets watchdog Sebi and the corporate affairs ministry have started digging deep into allegations of governance lapses and violations that could force the government to override existing arrangements and pacts at InterGlobe Aviation, officials said.
Bringing the differences between long-time friends and promoters of IndiGo out in the open, Rakesh Gangwal has sought Sebi’s intervention into alleged corporate governance lapses at the company.
InterGlobe Aviation, which got listed in 2015, has come under intense regulatory scanner and there are indications of multiple violations of Sebi norms.
Differences between the promoters were made public last Tuesday.
Interglobe Aviation had on Friday informed BSE that the meeting of the board of directors of the company was scheduled on July 19 to consider and approve unaudited standalone and consolidated financial results for the quarter ended June 30, 2019.