ICSI Calls for Stronger Governance in Wake of IndiGo Crisis

The Institute of Company Secretaries of India (ICSI) urges stronger governance practices following governance lapses at IndiGo. The incident highlights the need for corporate accountability, sound governance frameworks, and transparent communication to preserve shareholder value and trust. IndiGo faces disruptions due to inadequate planning on new flight duty norms.

The Institute of Company Secretaries of India (ICSI) has raised concerns over the governance mishaps at IndiGo, India's largest airline, calling for more stringent governance practices within the corporate sector.

Facing operational disruptions, IndiGo has canceled and delayed hundreds of flights, primarily due to inadequate implementation of new flight duty regulations. The situation is reportedly stabilizing.

ICSI President Dhananjay Shukla emphasized that the IndiGo incident serves as a wake-up call for the corporate world to maintain robust governance frameworks, which are crucial for ensuring shareholder value, public trust, and operational accountability.

(With inputs from agencies.)