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Rakesh Gangwal skips IndiGo EGM held to vote on changes demanded by him

Rakesh Gangwal skips IndiGo EGM held to vote on changes demanded by him

Rakesh Gangwal skips IndiGo EGM held to vote on changes demanded by him
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By CNBC-TV18 Jan 29, 2020 12:12:50 PM IST (Updated)

IndiGo co-founder Rakesh Gangwal has given the airline's extraordinary general meeting (EGM) a miss. The meeting, interestingly, has been held on Gangwal's request to vote on the changes demanded by him.

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Anupam Khanna, Non-Executive Independent Director, is also not present at the meeting, which is currently underway.
The EGM has been convened to vote on the articles of association changes that Gangwal had demanded.
The agenda of the meeting will be changing rules on share sale and purchase, removing the right of first refusal and do away with tag-along right from AoA.
Rakesh Gangwal and related entities together hold 36.64 percent stake in the company.
Those from the top management present at the meeting are promoter Rahul Bhatia, his wife Rohini Bhatia, InterGlobe Technology president Anil Parashar, Ronojoy Dutta, CEO of InterGlobe Aviation, board chairman M. Damodaran and company secretary Sanjay Gupta.
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