IndiGo on Friday announced the appointment of Pallavi Shardul Shroff as its independent woman director to address allegations raised by co-promoter Rakesh Gangwal about regulatory non-compliance by the airline.
Ms. Shroff is the Managing Partner of Shardul Amarchand Mangaldas & Co. with over 37 years and sits on the Head of the Dispute Resolution practice at the Firm, with an extensive knowledge in matters of litigation and arbitration, according to a statement from IndiGo.
The move follows a letter by Mr. Rakesh Gangwal to market regulator SEBI in June with a litany of complaints about IndiGo’s non compliance of regulations, “unusual” powers enjoyed by his co-promoter Rahul Bhatia, among other issues, after differences emerged between the two.
This led to IndiGo calling an Annual General Meeting to seek shareholders’ nod to amend the Articles of Association and increase the Board size to 10 from six and induct an Independent Woman Director as per the Companies Act, 2013.
