ETV Bharat / business

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

author img

By

Published : Jan 3, 2020, 3:13 PM IST

InterGlobe Aviation said a meeting of shareholders will be convened on January 29. The meeting is being convened following request by co-promoter Rakesh Gangwal and related entities.

IndiGo
IndiGo

New Delhi: InterGlobe Aviation on Friday said a meeting of shareholders will be convened on January 29 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 January 29 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.

Shares of InterGlobe Aviation rose over 3 per cent to Rs 1,376.60 in afternoon trade on the BSE.

Read more:Kia Motors hikes prices of Seltos by up to Rs 35,000

New Delhi: InterGlobe Aviation on Friday said a meeting of shareholders will be convened on January 29 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 January 29 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.

Shares of InterGlobe Aviation rose over 3 per cent to Rs 1,376.60 in afternoon trade on the BSE.

Read more:Kia Motors hikes prices of Seltos by up to Rs 35,000

Intro:Body:

InterGlobe Aviation said a meeting of shareholders will be convened on January 29. The meeting is being convened following request by co-promoter Rakesh Gangwal and related entities.

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




Conclusion:
ETV Bharat Logo

Copyright © 2024 Ushodaya Enterprises Pvt. Ltd., All Rights Reserved.