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A patch up between Rakesh Gangwal and Rahul Bhatia, the two co-promoters of IndiGo Airlines, might have been arrived at. Late on Friday evening, Gangwal issued a statement saying he will support the proposed changes to the company’s articles.
“The board has approved a new related party transaction policy and to also close an open issue if the Articles of Association are amended at the upcoming August 27 AGM to increase the board size to 10 directors,” he said. It was not immediately clear how the patch-up between the two happened as the issue of raising the board strength was announced earlier.
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