IndiGo parent company to hold EGM in December end to amend articles of association

Interglobe Aviation NSE 3.81 % has again called for a extraordinary general meeting (EGM) in December end to amend articles in the shareholders agreement that, among other things, says one promoter needs the approval of another before selling shares to a third party.Interglobe Aviation runs the country’s biggest airline IndiGo. The company’s shareholders had rejected a similar proposal in an EGM last year, called at the behest of one of the founders Rakesh Gangwal.

Gangwal and his partner Rahul Bhatia have been locked in a bitter feud over several clauses in the shareholders’ agreement drawn up at the time of IndiGo’s inception and later amended.