The pilot duty time limits crisis at IndiGo, which led to widespread flight cancellations and major inconvenience for passengers, has drawn the attention of the Securities and Exchange Board of India (SEBI) and stock exchanges. Regulators are examining whether InterGlobe Aviation, the parent company of IndiGo, failed to make timely and mandatory disclosures related to the disruption.
SEBI Examining Board Committees and Disclosure Processes
According to sources, SEBI has begun an internal assessment and may seek formal explanations from the airline if initial findings point to gaps.
One source noted, “The disclosure issue is under examination and the role of the board committees is also being examined. Minutes of the board committees concerned is being reviewed.”
Exchanges have also been asked to conduct a parallel assessment of any possible lapses and submit their findings to SEBI. The source added that exchanges act as the “first line of regulator” and must ensure listed companies adhere to SEBI’s LODR (Listing Obligations and Disclosure Requirements) norms.
Did the Board Know About the Crisis?
Another person aware of the development highlighted that reviewing the board and committee minutes will help determine whether the airline’s leadership was aware of the impending crew-related disruptions.
“If the board was aware, the next step is to understand what measures were discussed or planned to address the situation,” the person added.
The regulatory scrutiny comes at a time when IndiGo is already dealing with operational instability and reputation concerns following large-scale cancellations linked to new pilot duty time regulations.
