IndiGo’s Rakesh Gangwal says he will support resolution on expanding board
IndiGo co-founder Rakesh Gangwal has decided to vote for a resolution to amend the airline’s Articles of Association.
The resolutions will come up for approval at the company’s annual general meeting (AGM) on August 27.
Among the major resolutions, there is one on expanding the size of the board to 10 members, including four independent directors.
Currently, the company’s board has six members with two independent directors.
Without the support of Gangwal, who owns 37 per cent in the airline, a special resolution to change the Articles of Association will not succeed because that requires the assent of 75 per cent of the shareholders.
