Friends turned foes: How IndiGo founders Rahul Bhatia and Rakesh Gangwal’s relationship soured

Once bitten, twice shy. Back in 1991, Rahul Bhatia, the co-founder of low-cost carrier IndiGo, was involved in his father’s airline agency Delhi Express when his father’s partners – about nine of them – acquired majority control in the company. Bhatia and his father left the company. The incident may have played its role in structuring the InterGlobe Aviation’s shareholder agreement-all heavily loaded in favour of Bhatia.

The clauses of the agreement are now at the centre of a bitter feud between Rakesh Gangwal, the other co-founder at IndiGo, and Bhatia over control of the airline they founded 14 years ago with a single aircraft.

Friends turned business partners who went on to establish Asia’s largest carrier, the story of Gangwal and Bhatia could well be a movie script. The bitter fight between the two started around last…

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