IndiGo to convene EGM on Gangwal's request

InterGlobe Aviation, the firm which runs the airline IndiGo, on Friday, said it will convene an Extra-Ordinary General (EGM) on January 29, on the request of Shobha Gangwal and The Chinkerpoo Family Trust (RG group).

The EGM has been called to seek shareholders' nod on certain changes which will be made to the company's Articles of Association (AoA).

At present, the RG Group comprises of Rakesh Gangwal, Shobha Gangwal and the Chinkerpoo Family Trust, which collectively holds 36.64 per cent of the paid-up share capital of the company.

"The Board of Directors of the company on December 31, 2019, have approved the convening of the EGM," the company said in a regulatory filing.

According to the filing, the EGM has been called to consider the proposal to amend articles "1.6 to 1.15, 1.16 to 1.20 and 2A from the company's Articles of
Association".

These articles deal with aspects such as transfer of equity shares, acquisition of shares and other provisions on equity shares.

Other proposals include the provisions of "Section 14 and other applicable provisions, if any, of the Companies Act, 2013; Securities and Exchange Board of India Regulations, 2015...."

The shareholders' agreement dated April 23, 2015 was entered amongst the company, the RG group and the Rahul Bhatia-owned IGE group. It was amended on September 17, 2015.

The shares of InterGlobe Aviation closed at Rs 1,360.95, up 2.10 per cent on Friday.IANS