Swiggy Board Approves AoA Changes, Revises Director Nomination Rights

Swiggy Limited's Board of Directors approved significant alterations to the company's Articles of Association (AoA) and the grant of special rights to identified shareholders. These changes aim to rationalize and update the provisions related to nomination rights on the Board, streamlining the governance framework. Key amendments include the deletion of nomination rights previously held by Accel and Softbank. New nomination rights are proposed for Mr. Sriharsha Majety, allowing him to nominate himself and one senior management member, and for Mr. Phani Kishan Addepalli to nominate himself. The amendments also clarify conditions for the cessation of nomination rights. These changes are subject to shareholder approval via a Postal Ballot.