IndiGo promoters call EGM on Dec 30 to amend share clauses

The promoters of India’s largest airline, IndiGo, have called an extraordinary general meeting (EGM) on December 30 to scrap a clause in the company’s articles of association (AoA), which gives them the right of first refusal (RoFR) over acquisition of each other’s shares.

A removal of the clause will allow either side to sell or transfer shares to a third entity without giving each other notice.

On Monday, IndiGo informed the stock exchange that it had received a joint requisition from co-founders Rahul Bhatia of InterGlobe Enterprises and Rakesh Gangwal and his family for removing transfer restriction articles from the