The Government of India, on 1 March 2007, approved the merger of Air India and Indian Airlines. Consequent to the above, a new Company viz National Aviation Company of India Limited (NACIL) was incorporated under the Companies Act, 1956 on 30 March 2007 with its Registered Office at Airlines House, 113 Gurudwara Rakabganj Road, New Delhi. The Certificate to Commence Business was obtained on 14 May 2007. Presently, the Board of NACIL consists of : •Shri Raghu Menon, Addl Secretary & Financial Advisor, Ministry of Civil Aviation •Shri R K Singh, Jt Secretary, Ministry of Civil Aviation •Shri Rajiv Bansal, Director, Ministry of Civil Aviation
The Scheme of Amalgamation of Air India Limited and Indian Airlines Limited with National Aviation Company of India Limited was approved by the Board of Directors of all the three Companies.
Thereafter, the Meetings of Secured and Unsecured Creditors of Air India and Indian Airlines were held in New Delhi on 28 June 2007, in which the Scheme of Amalgamation was approved by the Creditors. The final hearing of the merger petition was held on 31 July 2007 wherein the last date for submissions of objections was fixed on 8 August 2007 and the Order of the Ministry of Corporate Affairs is awaited.
The Authorised and Paid-Up Share Capital of the merged entity will be Rs.1500,05,00,000/- and Rs.145,00,00,000/-, respectively.
It has been decided that post merger, the new entity will be known as “Air India” while “Maharaja” will be retained as its mascot. The logo of the new airline will be a red coloured flying swan with the “Konark Chakra” in orange placed inside it. The flying swan has been morphed from Air India’s characteristic logo “The Centaur” whereas the “Konark Chakra” was reminiscent of Indian’s logo. The Corporate Office of NACIL will be at Mumbai.
The Government has approved the...