InterGlobe Aviation, the parent company of India’s largest airline IndiGo, Friday announced convening a meeting of shareholders on January 29, at the request of co-promoter Rakesh Gangwal, for removing various provisions in the company’s Articles of Association (AoA).
In signs that the feud between the two promoter groups is continuing to persist, Gangwal — who co-founded IndiGo with Rahul Bhatia — is seeking to delete certain rules in the company’s AoA that give Bhatia the ‘right of first refusal’ (ROFR) should Gangwal choose to sell his shares. The extraordinary general meeting (EGM) would discuss deleting various Articles pertaining to transfer and acquisition of the company’s shares, including ‘ROFR’ and ‘Tag Along Right’, in the firm’s AoA, according to the meeting notice posted by IndiGo with stock exchanges.
