Bhatia vs Gangwal: IndiGo promoters' first right of refusal ends on Nov 9

The two sides led by Rahul Bhatia and Rakesh Gangwal are discussing possible changes in shareholders' agreement

IndiGo promoters Rahul Bhatia and Rakesh Gangwal can exercise their “first right of refusal” only till November 9, 2019, in case one of them decides to sell his shares to a third party. 

After the expiry of the deadline, both the promoters will be free to sell their shares without such restriction, according to the shareholders’ agreement and the articles of association, unless the agreement is reworked. 

The two sides through their law firms — JSA Law for Bhatia, and Khaitan & Co for Gangwal — are discussing possible changes in the shareholders’ agreement, sources said.  

The IGE group (Rahul Bhatia and family)