Sebi settlement hits InterGlobe shares

NEW DELHI: Shares of InterGlobe Aviation Ltd on Wednesday slipped over 2% af ter the company paid over Rs 2.1 crore to regulator Sebi to settle a case of alleged corporate governance lapses and listing norm violations.

On BSE, the stock settled at Rs 1,628.1, down 2.01%. Intra-day, it was trading at a low of Rs 1,614.7. On NSE, the scrip declined 2.29% to close the counter at Rs 1,624. During the day, it touched Rs 1,615.

The complaints were raised by the company's co-promoter Rakesh Gangwal.

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 on Tuesday.

The order comes more than a year af ter InterGlobe Aviation''s co-promoter Gangwal alleged corporate governance lapses at the company. Gangwal and co-promoter Rahul Bhatia have differences over certain corporate governance matters.

Bhatia camp had rejected the allegations.