InterGlobe Aviation Ltd (IGA) shares voted to remove curbs on promoter share transfer on 30 December, signalling the end of a protracted feud at India’s largest domestic airline IndiGo.
InterGlobe’s Articles of Association (AoA) is an amendment to lead to the exit of co-founder Rakesh Gangwal, who has been locked in a battle with co-founder Rahul Bhatia.
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Two groups collectively hold a 74.4% stake in InterGlobe Aviation (IGA, parent company of IndiGo). “Members 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,” IGA said in a regulatory filing.
