Shareholders at the parent of India's biggest carrier IndiGo today voted against a proposal to lift restrictions around the sale and acquisition of shares, the latest development in a power struggle between its two founding shareholders. The motion to amend the company's articles of association, voted on during an Interglobe Aviation extraordinary general meeting today, would have made it easier for its two major shareholder groups to sell or increase their stake in the Indian carrier. The proposal fell just short of securing a majority, securing 48.6% in favour of the amendment. While low-cost IndiGo has continued its rapid expansion – among the carriers capitalising on the grounding last year of Jet Airways - and has just revealed a more than doubling of net profits to Rs4.96 billion ($69 million) in the three months ended 31 December, the group's two biggest shareholders groups have been at loggerheads since the summer.