The Hindu Business Line : Interim board meeting of merged Indian, AI entity held

New Delhi April 20 The broad contours of the new entity created by the merger of Air India and Indian has begun to take shape, with the first interim board meeting that was held on April 18.

"The meeting was a routine affair and clears the way to make a formal application with the Registrar of Companies to commence business," sources said.

"Besides, other routine items like approval of preliminary expenses, adoption of a common seal, taking on board the memorandum of articles and association of the company and determination of accounting year were taken up."

Currently the board has three members from the Ministry of Civil Aviation - Mr Raghu Menon (Additional Secretary and Financial Advisor), Mr R.K. Singh (Joint Secretary) and Mr Rajiv Bansal (Director).

The name of the merged entity and other details are in the final stages of being finalised, in consultations with lawyers, and should be available in 2-3 weeks, the sources said.

The meeting also decided to appoint Air India Company Secretary, Mr S. Venkat, as Company Secretary of the new entity.

The Union Cabinet gave its approval for the merger of Air India and Indian last month.

The merged entity will be among the largest in the region and have a fleet of around 111 new aircraft.

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