COMPANIES

Air India-Indian merger cleared, notification for birth of National Aviation Company of India Ltd likely tomorrow
New Delhi: Rejecting all the objections filed by different unions representing pilots and cabin crew to ground staff and even pensioners, the ministry of corporate affairs has approved the merger of Air India and Indian, clearing the last major hurdle in creating a combined flag carrier.

The MCA's approval has come in despite objections raised by employees and staff unions.

The approval for the proposed combined entity, National Aviation Company of India Ltd (NACIL), has been sent to civil aviation ministry and an official notification is likely to be issued tomorrow.

The two carriers had approached the corporate affairs ministry under Section 396 of the Companies Act, 1956 for their dissolution and registration of NACIL. As per this section, the ministry has the power to allow merger of public sector enterprises in public interest.

GENERAL

Oil sector officers strike called off
The officers of public sector oil companies who had given a strike call from today called off their strike this morning, in response to an appeal by Murli Deora, minister of petroleum and natural gas

Welcoming the decision of the officers, Deora said the withdrawal of the strike notice was a step is in right direction, since any industrial action in the petroleum sector causes avoidable hardship and inconvenience to the people.

The minister emphasised that the government had been sympathetic to the genuine demands of officers and employees of the public sector in general and oil sector in particular.

The pay revision committee set up by the ministry of heavy industries and public enterprises is already looking into the issues concerning pay revision in the central public sector undertakings.

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