Home >Companies >News >Amid promoters' spat, InterGlobe Aviation to hold shareholders' meet on 29 Jan
On BSE, shares of InterGlobe Aviation on Friday closed 2% higher at  ₹1,360.25 (Photo: Reuters)
On BSE, shares of InterGlobe Aviation on Friday closed 2% higher at 1,360.25 (Photo: Reuters)

Amid promoters' spat, InterGlobe Aviation to hold shareholders' meet on 29 Jan

  • The meeting is being convened following request by co-promoter Rakesh Gangwal and related entities who together hold 36.64% in IndiGo
  • The extraordinary general meeting would vote on changes in the articles of association

New Delhi: InterGlobe Aviation on Friday said a meeting of shareholders will be convened on 29 January to seek approval for certain changes in the company's articles of association.

The meeting is being convened following request by co-promoter Rakesh Gangwal and related entities who together hold 36.64 per cent stake in the company, the parent of the country's largest airline IndiGo.

The differences between co-founders and co-promoters -- Rakesh Gangwal and Rahul Bhatia -- came to the fore in July 2019 after Gangwal sought market regulator Sebi's intervention to address alleged corporate governance lapses at the company.

An extraordinary general meeting (EGM) would be held on 29 January on the request of Rakesh Gangwal Group, according to a regulatory filing.

The group comprises Rakesh Gangwal, Shobha Gangwal and The Chinkerpoo Family Trust (Trustee: Shobha Gangwal and J P Morgan Trust Company of Delaware).

The EGM would vote on changes in the articles of association (AoA). Generally, an AoA provides the regulations for operating a company.

On BSE, shares of InterGlobe Aviation on Friday closed 2% higher at 1,360.25.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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