Swiggy says founder nomination rights did not amount to “concentration of power”, tied to push for Indian owned company status

Swiggy Limited has moved to calm governance concerns following shareholder resistance to its proposed Articles of Association amendments, arguing that the founder-linked board nomination rights under the proposal were limited, conditional and subject to shareholder oversight. In a fresh clarification to stock exchanges, the company said the proposed changes did not create veto powers, permanent board seats, affirmative voting rights,…