The board of directors of Taneja Aerospace & Aviation on Thursday approved a scheme of arrangement between the company and TAAL Enterprises Ltd (TEL), a wholly owned subsidiary. According to the arrangement, the charter business and investments in First Airways Inc and TAAL Tech India Pvt Ltd (subsidiaries of the company) would become part of TEL. The appointed date of the scheme is October 1. One fully paid equity share of face value ₹10 each of TEL will be allotted for every eight fully paid equity shares of ₹5 each held in Taneja Aerospace. The shareholding of TEL post-demerger would be the same as Taneja Aerospace.
Taneja Aerospace board nod to scheme of arrangement with TAAL
Published on
October 9, 2014 16:03