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News about Deccan Aviation Limited

December 4th, 2007

The media had reports that Deccan Aviation Limited may split the aviation chartering business into a separate entity.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

Deccan Aviation Limited has vide its letter inter-alia stated, “The Board of Directors at the meeting held on April 26, 2007 had considered and approved in principle the proposal of hiving off the Charter Services into a separate entity through a wholly owned subsidiary and formation of a Company for the same subject to approval of the shareholders of the Company. Consequent to the said in principle approval from the Board, studies are now being initiated to consider this. However, no concrete steps have been taken and will only be taken after the outcome of these studies is presented to the Board.”

Entry Filed under: Equities, NSE, Aviation