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IndiGo parent calls shareholder meeting to amend articles of association
December 9th 2021
IndiGo parent, InterGlobe Aviation, has called an extraordinary general meeting (EGM) for December 30 to amend the company’s articles of association. Read More » A statement filed to the National Stock Exchange of India earlier this week said the request from co-founders, Rahul Bhatia and Rakesh Gangwal, who together own 74.44% of the airline, aimed to remove transfer restrictions on shares. The restrictions give the two parties first right of refusal over the acquisition of each other’s shares and have been a source of contention between the two owners. The announcement follows a September directive, handed down by the London Court of International Arbitration, that the clause be removed within 90 days. IndiGo shares rose on news of the EGM and speculation in the India media that it could end the feud between the co-founders.
