Indigo to seek shareholders’ nod for board expansion

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Published: July 21, 2019 12:51:59 AM

The expansion of the board to include more independent directors was one of the contentious issues between the co-promoters

Gangwal, in his letter to Sebi on July 8, had listed a series of lapses on the corporate governance part in the airline and not having a woman director was one of them.

InterGlobe Aviation, which runs low-cost airline IndiGo, said on Saturday it will take the approval of its shareholders at the upcoming annual general meeting (AGM) for expanding the board of directors to induct a woman director.

The board meeting, which began on Friday and continued on the second day, took place amid the ongoing dispute between co-promoters Rakesh Gangwal and Rahul Bhatia over a host of issues related to corporate governance.

The expansion of the board to include more independent directors was one of the contentious issues between the co-promoters. As per Securities and Exchange Board of India (Sebi) regulations, all listed companies should have at least one woman director on their boards.
Gangwal, in his letter to Sebi on July 8, had listed a series of lapses on the corporate governance part in the airline and not having a woman director was one of them.

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