Taneja Aerospace & Aviation has received an approval for transfer of TAAL Technologies business of the company to its wholly owned subsidiary (WOS) by way of slump sale. The board at its meeting held on November 08, 2012 has approved for the same.
The above is however subject to the consent by requisite majority of the shareholders of the company in terms of the provisions of the Companies Act, 1956 and / or other statutory or regulatory authorities, which by law may be necessary.
Taneja Aerospace & Aviation (TAAL) is a part of the Pune based Indian Seamless group, it is the first private sector company in the country to manufacture general aviation i.e. non-military aircraft. TAAL has three distinct Business Divisions, namely, Aero-structures, Airfield & MRO and Aircraft Sales and Support.
