Indigo Co-Founder Seeks To Ease Rules On Shareholdings In Indian Carrier

“The call for an EGM confirms that Rakesh Gangwal wants to sell his shares in the company,” said Sriram Subramaniam, head of InGovern – a shareholder advisory firm, adding it was unlikely the resolutions would pass as they required three-quarters of the shareholder vote.

“It will not be surprising if, once the resolutions are defeated, there are claims made of oppression and mismanagement,” said Subramaniam, adding this was likely a part of a ‘corporate fight playbook’