Amid promoter spat, InterGlobe Aviation to hold shareholder meet on Jan 29

The meeting is being convened following request by co-promoter Rakesh Gangwal and related entities who together hold 36.64% stake in the company

In signs that promoters' feud are far from over, InterGlobe Aviation on Friday announced convening a meeting of shareholders on January 29, at the request of co-promoter Rakesh Gangwal, for removing various provisions in a key document of the company.

The extraordinary general meeting (EGM) would discuss deleting various Articles pertaining to transfer and acquisiton of the company's shares, including 'Right of First Refusal' and ' Tag Along Right', in the company's Articles of Association (AoA).

The development comes more than six months after Gangwal flagged concerns over corporate governance lapses at InterGlobe Aviation, the parent of the country's largest airline IndiGo.

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