The public battle between Rahul Bhatia and Rakesh Gangwal — co-founders of the country’s largest airline IndiGo—has taken a new turn with Gangwal convening an Extraordinary General Meeting (EGM) of the company. The EGM, scheduled for January 29, will vote on changes in the Articles of Association (AoA) demanded by Gangwal.
The changes are meant to scrap the AoA provisions that give right of first refusal to both the promoters over each other’s shares in the company. The duo, together holding 75 per cent stake, is credited with building a successful airline, which at …
Source: Business Standard
