IndiGo on Wednesday said it has responded to all queries from markets regulator Sebi regarding related party transactions and asserted that they were entered into in the best interests of the company.
InterGlobe Aviation, parent of the country's largest airline IndiGo, also said it has strong processes for ensuring arm's length dealings with related parties.
On Tuesday, sources told PTI that a preliminary probe by Sebi has suggested prima-facie violations of corporate governance and listing disclosure norms in certain related party transactions involving InterGlobe Aviation.
In a statement, IndiGo Whole Time Director and CEO Ronojoy Dutta said it has not received any communication from Sebi regarding any outcome of any preliminary enquiry by the regulator.
"Further, IndiGo strongly denies any allegations of wrongdoing or avoidance of processes. It reiterates that it has strong processes for ensuring arm's length dealings with related parties and that such transactions were entered into in the ordinary course of business and were in the best interests of IndiGo," he said.
According to him, IndiGo has responded to all queries from Sebi regarding these matters and remains confident that its position would be accepted.
"If and when Sebi conveys to IndiGo any outcome of an enquiry, IndiGo being confident of its compliance record, will deal with it appropriately," he added.
