Gearing up to launch services in India in partnership with the Tatas, Malaysia-based low-cost airline AirAsia has got the Ministry of Corporate Affairs approval for the name of its Indian venture, which will be called AirAsia (India) Private Ltd.
The name of the new company has been registered in Maharashtra, a senior official said.
The company is now in the process of incorporating itself in India and completing other formalities of submitting the required documents and certificates with the Ministry, he said. The filing process for the new venture is being completed on a fast-track basis, he added.
Before incorporating itself in India, a company needs to get its name approved by the MCA, after which it is required to file an application for incorporation.
Thereafter, the company needs to file a notice of situation of registered office, followed by filings related to particulars of appointment of managing director, directors, manager and secretary.
The Foreign Investment Promotion Board has already approved investment in the new venture, wherein Malaysia-based AirAsia would hold 49 per cent stake, Tata Sons 30 per cent and Arun Bhatia of Telestra Tradeplace 21 per cent.
The airline needs to get a no-objection certificate from the Aviation Ministry and thereafter an air transport licence from the DGCA (Directorate-General of Civil Aviation) to be declared a scheduled airline.