IndiGo has appointed Pallavi Shardul Shroff as independent woman director with effect from September 19.

Shroff is the managing partner of Shardul Amarchand Mangaldas & Co with over 37 years of extensive experience. She also regularly represents several companies such as Nestle, General Electric, Havells, Vale Australia, Vodafone, BHEL and ONGC.

Shroff is also a director on the boards of Apollo Tyres Ltd, Trident Ltd and Asian Paints Ltd. She is also on the boards of One97 Communications Ltd (Paytm), Juniper Hotels Ltd among other companies.

IndiGo's co-founder Rakesh Gangwal had written a letter to Sebi on July 8 complaining about the absence of independent woman director on the board of IndiGo. He had also alleged a lack of corporate governance at the airline.

Soon after, on July 20, the board of InterGlobe Aviation Ltd or IndiGo decided to seek shareholders' approval at the annual general meeting for expanding the board to enable the induction of an independent woman director. This was approved by the shareholders on August 27.

As of March 31, the two promoters, Rahul Bhatia and Rakesh Gangwal, hold 74.93 percent share, while the rest 25.07 percent is held by the public.

Rahul Bhatia and his associates hold the highest stake in the company at 38.26 percent, followed by Rakesh Gangwal and his associates at 36.68 percent.

First Published:Sept 20, 2019 4:05 PM IST