Swiggy said in an exchange filing on Thursday that it was unable to secure shareholder approval needed to amend its Articles of Association, a step required to help qualify it as an Indian-owned and controlled company (IOCC).
The food and grocery delivery company said its resolution to appoint cofounder Phani Kishan Addepalli and CFO Rahul Bothra to the board received 72.36% of shareholder votes, falling short of the required threshold by 2.65%.