Shares of InterGlobe Aviation fall 3 pc after it pays Rs 2.1 crore as settlement charges to SEBI

After the company paid over Rs 2.1 crore to SEBI to settle a case of alleged corporate governance lapses and listing norm violations, shares of InterGlobe Aviation Ltd fell nearly 3 per cent in the morning trade at BSE. The complaints were raised by the company's co-promoter Rakesh Gangwal.

At the BSE, the stock was trading at Rs 1,614.7 down 2.81 per cent. Similarly on the NSE, the scrip slipped 2.83 per cent to Rs 1,615.

InterGlobe Aviation has settled the matter without admitting or denying any violation on its part by paying a settlement charge of Rs 2.1 crore, according to a SEBI order passed yesterday.

The order comes more than a year after InterGlobe Aviation's co-promoter Gangwal alleged corporate governance lapses in the company. His complaints related to alleged corporate governance lapses including those pertaining to Related-Party Transactions. 

Gangwal and co-promoter Rahul Bhatia have differences over certain corporate governance matters. However, the Bhatia camp had rejected the allegations.