Shareholders of Interglobe Aviation, the parent firm of carrier IndiGo, on Thursday approved a resolution to amend clauses in the shareholders’ agreement that allow the other promoter the right of first refusal (RoFR) if one of them wishes to sell his shares. Promoters Rahul Bhatia and Rakesh Gangwal have been locked in a bitter battle since 2019. Together, they own 74.4% in the airline.
The voting on the resolution took place at an Extraordinary General Meeting on Thursday. The company said in a BSE filing that 99.99% shareholders had voted in favour of the resolution.
The EGM was jointly requisitioned by the two promoters. It follows a September order of the London Court of International Arbitration directing an amendment to the AoA to scrap the clause regarding RoFR at the behest of Mr. Gangwal. The London court had granted the parties 90 days to implement the order.
