NEW DELHI: The pandemic uncertainty remains but IndiGo could fly into the New Year with its warring founder-promoters \u2014 Rahul Bhatia and Rakesh Gangwal \u2014 burying the hatchet. The biggest remaining bone of contention between them overselling stake with each other\u2019s approval was removed in an extraordinary general meeting here by amending the company\u2019s articles of association on Thursday. While highly unlikely, it remains to be seen if the Gangwal group exits or dilutes its holding in India\u2019s biggest airline.
\nThe two groups collectively hold 74.4% stake in InterGlobe Aviation (IGA, parent company of IndiGo) almost equally. The end of the war of attrition means the Big Blue airline can take on upcoming challenges like the mega Tata-Air India airline being formed next year and the entry of the Big Bull in Indian skies.
\n\u201c\u2026Members of the company at the EGM held on December 30, 2021, have approved the special resolution for an amendment to the Articles of Association by deletion of articles 1.6 to 1.15 (transfer of equity shares), 1.16 to 1.20 (acquisition of shares) and 2A (other provisions on equity shares), with requisite majority,\u201d IGA said in a regulatory filing. The EGM was called at the joint request of the two.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: The pandemic uncertainty remains but IndiGo could fly into the New Year with its warring founder-promoters \u2014 Rahul Bhatia and Rakesh Gangwal \u2014 burying the hatchet. The biggest remaining bone of contention between them overselling stake with each other\u2019s approval was removed in an extraordinary general meeting here by amending the company\u2019s articles of association on Thursday. While highly unlikely, it remains to be seen if the Gangwal group exits or dilutes its holding in India\u2019s biggest airline. The two groups collectively hold 74.4% stake in InterGlobe Aviation (IGA, parent company of IndiGo) almost equally. The end of […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220,130,137],"tags":[],"class_list":["post-459485","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-times-of-india","category-newspapers","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/459485","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=459485"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/459485\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=459485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=459485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=459485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}