Shareholders okay tweak in IndiGo’s contentious clauses
Mumbai: The shareholders of InterGlobe Aviation, which operates domestic airline IndiGo NSE 0.44 %, on Thursday approved a resolution seeking an amendment to the Articles of Association (AoA) of the company, some of which give one founder the first right to purchase the other’s shares in the company if the latter decides to sell.
InterGlobe’s founders Rahul Bhatia and Rakesh Gangwal have been locked in a feud over several articles in the AoA since 2019. An amendment will lift several barriers to any sale of shares by a founder to a third party. The founders own 74.44% in InterGlobe.
