IndiGo shareholders on Thursday approved a special resolution to remove the clause, which gave its promoters, Rakesh Gangwal and Rahul Bhatia, the power of right of first refusal (RoFR) when one of them wanted to sell his shares, from the Articles of Association (AoA) of the airline.
The passage of special resolution at extraordinary general meeting held on Thursday is likely to pave the way for resolution of dispute, which has been going on since 2019, between the two promoters.
Bhatia and his related entities own around 38 per cent in InterGlobe Aviation, which is the holding company of IndiGo Airline. Gangwal and his related entities own around 37 per cent in this company.
