The InterGlobe Aviation EGM turned into a stormy affair on Wednesday as the shareholders created a ruckus over Rakesh Gangwal\u2019s absence even though he had pressed for the meeting to move a special resolution seeking to amend the articles of association of IndiGo Airlines\u2019 parent. Co-founder Rahul Bhatia attended the meeting.<\/p>\n
Gangwal has been locked in a bruising battle with Rahul Bhatia for over a year, alleging shortcomings in corporate governance practices and dodgy related-party transactions between Bhatia\u2019s firms and the country\u2019s largest airline.<\/p>\n
The shareholders\u2019 agreement between Gangwal and Bhatia ended last November (which required them to act in concert at all times) but Gangwal is unable to sell his stake or negotiate a fair deal with Bhatia for his shares as the AoA contains a proviso that confers the right of first refusal to either of the founders when the other party wishes to sell his stake.<\/p>\n","protected":false},"excerpt":{"rendered":"
The InterGlobe Aviation EGM turned into a stormy affair on Wednesday as the shareholders created a ruckus over Rakesh Gangwal\u2019s absence even though he had pressed for the meeting to move a special resolution seeking to amend the articles of association of IndiGo Airlines\u2019 parent. Co-founder Rahul Bhatia attended the meeting. Gangwal has been locked in a bruising battle with Rahul Bhatia for over a year, alleging shortcomings in corporate governance practices and dodgy related-party transactions between Bhatia\u2019s firms and the country\u2019s largest airline. The shareholders\u2019 agreement between Gangwal and Bhatia ended last November (which required them to act in […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[216,130,148],"tags":[],"class_list":["post-331832","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-telegraph","category-newspapers","category-the-telegraph"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/331832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=331832"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/331832\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=331832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=331832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=331832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}