IndiGo’s Rakesh Gangwal seeks to ease rules on shareholdings
BENGALURU: One of the co-founders of Indian airline IndiGoNSE 2.14 % is seeking to modify rules on the sale and purchase of shares by its main shareholders amid a bitter spat with his founding partner in the country’s largest carrier.
Rakesh Gangwal, who co-founded IndiGo with Rahul Bhatia, is seeking to delete certain rules in the company’s articles of association that give Bhatia the right of first refusal should Gangwal choose to sell his shares, a stock exchange filing from parent group InterGlobe Aviation Ltd showed.
