• UGI USER
  • Jun 07, 2024
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NCLT APPROVES VISTARA AND AIR INDIA MERGER, ENABLING INTEGRATION PROCESS

Why in the news?

  • The National Company Law Tribunal (NCLT) has sanctioned the merger of Vistara with Air India.
  • The merger allows a nine-month timeframe for the dissolution of Vistara.

About The National Company Law Tribunal (NCLT):

  • Quasi-judicial body: Adjudicates corporate law matters in India.
  • Establishment: Replaced Company Law Board and BIFR; recommended by Eradi Committee (2000).
  • Constitution: Under Companies Act, 2013, effective from June 1, 2016.
  • Objective: Resolve disputes related to company law and IBC, 2016.
  • Composition: President, Judicial, and Technical Members.
  • Appointment: President by Central Government after CJI consultation; Members on Selection Committee’s recommendation.
  • Term: President: 5 years or till 67; Members: 5 years or till 65; renewable.
  • Criteria: Members must be 50+ years old.
  • Structure: 11 benches across major cities; principal bench in New Delhi.
  • Appeal: Decisions appealable to NCLAT, further to the Supreme Court.
About National Civil Aviation Policy:

  • NCAP 2016: Launched in June 2016 to promote Indian civil aviation.
  • Goals: Affordable, convenient air travel for common man; ensure safety, security, sustainability.
  • Authority: Guided by the Ministry of Civil Aviation under Aircraft Act 1934, Rules 1937.

About Directorate general Of Civil aviation:

  • DGCA: India’s national regulatory body for civil aviation.
  • Responsibilities: Regulates aviation safety, airworthiness, pilot training, and licensing.
  • Functions: Manages air traffic control, provides meteorological services.
  • Authority: Operates under the Ministry of Civil Aviation.