InterGlobe Aviation, the firm which drives the airline IndiGo, on Friday, said it will assemble 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 named to seek shareholders’ nod on certain modifications that 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 thoroughly holds 36.64 percent of the paid-up share capital of the company.
“The Board of Directors of the corporation on December 31, 2019, have upheld the convening of the EGM,” the company said in a regulatory filing.
The EGM has been called to contemplate the suggestion to amend articles “1.6 to 1.15, 1.16 to 1.20 and 2A from the company’s Articles of
These articles deal with elements such as transfer of equity shares, obtainment of shares and other expenditures on equity shares.
Other proposals include the expenditures of “Section 14 and other acceptable expenditures, 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.