Indigo's Governance Gap: How a two-year compliance risk slipped through

Our Founder and MD, Mr. Shriram Subramanian, recently shared his insights on The Economic Times regarding the governance lapses arising from IndiGo’s prolonged non-compliance with DGCA’s revised FDTL norms. The situation highlights how a two-year regulatory risk went unaddressed at critical oversight levels.

IndiGo failed to comply with the new Flight Duty Time Limit (FDTL) framework notified in January 2024 and phased in through 2025 — resulting in massive flight cancellations, operational paralysis, and a steep decline in market value. Despite multiple Risk Management Committee meetings and a board comprising former regulators and senior policy leaders, the compliance lapse was neither escalated nor addressed, pointing to significant failures in governance, risk oversight, and information flow.

Sharing his perspective, Mr. Shriram Subramanian noted, “As a listed company, this also raises a potential violation of Regulation 30. The November call implied that there was ‘no material impact’. This is misleading. SEBI or even the MCA can examine whether investors were misled. From a regulatory standpoint, this absolutely warrants scrutiny.”

Read the full article: https://cfo.economictimes.indiatimes.com/news/governance-risk-compliance/indigos-governance-gap-how-a-two-year-compliance-risk-slipped-through/125865412?utm_source=top_story&utm_medium=homepage