The IndiGo board’s decisions taken in the last few days including amending the Articles of Association of the Company for expanding the board up to a maximum of 10, including four Independent Directors which was firmed up on Saturday have been welcomed by analysts.
The board also decided to seek the shareholders’ approval at the upcoming Annual General Meeting to expand the board to enable the induction of an independent woman director.
The board’s decisions came in the back drop of an open verbal feud between Rakesh Gangwal and Rahul Bhatia, the two co-promoters of the airline, with Gangwal alleging that Bhatia was not following corporate governance norms and also entering into Related Party Transactions (RPT).
