Bhatia will get to name 6 IndiGo directors, Gangwal 2

New Delhi: IndiGo said on Saturday that it will seek shareholders' nod at its coming AGM for expanding its Board. The two-day board meeting came against the backdrop of an ongoing spat between the two promoters over alleged corporate governance lapses.

The board's size will be expanded to 12 directors from the current six once the shareholders' approval is obtained at the upcoming AGM. In the expanded board, IndiGo's other co-promoter Rahul Bhatia will have the right to nominate six directors while Gangwal will have the right to nominate two directors. Remaining four directors will be independent.

The company told BSE on Saturday that as on June 30 this year, Bhatia's family and his company Interglobe Enterprises Limited owns 38.23 per cent of InterGlobe Aviation. Gangwal and his family own 36.65 per cent of the InterGlobe Aviation as on June 30, IndiGo told BSE Saturday.

Fuelled by higher passenger revenues, the airline's parent company InterGlobe Aviation Friday posted its highest-ever quarterly profit of Rs 1,203.14 crore for the three months ended June and asserted that co-promoters are on the same page on growth strategy.