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Gipps Aero Investments Pty Ltd Australia (GAI), a step-down subsidiary of Mahindra and Mahindra (M&M), has incorporated a subsidiary, Airvan 10 Pty Ltd, in Australia.
In a filing to the BSE, M&M said that Airvan, which has a paid-up capital of A$10, is incorporated for design approval from the civil aviation and safety authority of Australia for the 10-seater aircraft under development. It has been incorporated under the Australian Securities and Investments Commission.
Airvan is a wholly owned subsidiary of GAI, which itself is a subsidiary of Mahindra Aerospace Australia Pty Ltd. This in turn is a subsidiary of M&M’s subsidiary Mahindra Aerospace Pvt Ltd India.
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