‘The shareholders and their rights will remain as before in the company’
With IndiGo shareholders rejecting attempts to change the Articles of Association, BusinessLine spoke to lawyers on what this means for the company and shareholders. Here’s what Siddharth Mahajan, Partner, Athena Legal, had to say. Edited excerpts:
Rakesh Gangwal failed in his attempts to amend the Articles of Association of Indigo’s holding company. What effect will that have on Indigo?
The existing Articles of Association of Indigo’s holding company remain and the amendments suggested by Rakesh did not get the approval of shareholders. These amendments would have allowed him to sell his stake fully or partially without the consent of Rahul.
