IndiGo EGM: Shareholders reject co-promoter Rakesh Gangwal’s special resolution to amend AoA

Shareholders of InterGlobe Aviation, the parent company of Indigo airline, on Wednesday rejected a special resolution of co-promoter Rakesh Gangwal to amend the company’s Articles of Association (AoA).

Gangwal had sought removal of articles pertaining to transfer and acquisition of the company’s shares, including ‘Right of First Refusal’ and ‘ Tag Along Right’.

“The Special Resolution has not been passed as the votes cast in favour (48.55 per cent) of the resolution are less than three times the number of votes cast against (51.44 per cent) the resolution,” InterGlobe Aviation said in a BSE filing after the extraordinary general meeting held here on Wednesday.