InterGlobe Aviation shares on Thursday declined more than 2 per cent amid reports that Sebi has found violations in corporate governance and listing disclosure norms of the company. IndiGo on Wednesday said it has responded to all queries from Sebi regarding related party transactions and asserted that they were entered into in the best interests of the company.
The reports have slightly shaken the interest of investors which was reflected in the share price movement for the day.
The stock opened at Rs 1,382.90 and fell further by 2.08 per cent to Rs 1,365 on the BSE.
On the NSE, it fell 1.79 per cent to Rs 1,366.50 per unit.
Over 13 lakh shares of the company were traded on the NSE and 33,000 on the BSE.
The company has been facing a probe by Sebi ever since a public spat came to light between two founders of the airline, including over certain related party transactions involving one of the warring promoters.
Sources said that a preliminary probe has now suggested violation of certain listing disclosure norms as also of fair corporate governance practices at the company.
InterGlobe Aviation is the parent company of India's largest airline IndiGo.