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History of Taneja Aerospace and Aviation Ltd.

YEAR EVENTS 1988 - The Comp. was incorporated on 22nd July, for manufacture of aircraft for civilian use. It was promoted by B. R. Taneja, his associates & The Indian Seamless Metal Tubes limited

- The Comp. undertook to set up a project for manufacture of P-68 aircrafts with three variant viz. P-68C [twin piston engine, non pressuriseds], P-68 C-TC [twin piston engine turbo Chargeds] and P-68 Observer [same as P-68 C-TC with forward & downward view equal to that of helicopters]. It has an empty weight of 1320 Kgs & payload of 764 Kgs, with a capacity to attain a maximum speed of 322 Kmph, 1550 ft./min rate of climb, landing run of 215 mtrs & an optimum cruising range of 2170 Kms at 12000 ft.

- Land admeasuring 4438 sq. mtrs. was acquired at Denkanikotta Taluka, Dharmapuri dist. of Tamil Nadu. Main items of plant and machinery such as jigs & testing facilities were to be imported from Partenavia SRL Via G. Pascoli, Casoria [Napolis] Italy, and control tooling from Allied Signals Pennsylvania, USA. The Comp. would get part of aircraft to be assembled in India.

- The Comp. entered into two agreements with Partenavia Construzioni Aeronutliche S.R.L. Italy for manufacture & sale in India P-68 & Viator aircraft. The agreement is valid for a period of 10 years.

- Also entered into another agreement with National Aeronautical Laboratory, Bangalore as a risk sharing partner for joint development & commercial production of NAL indigenous composite material two seater light trainer air craft.

1995 - The dependence on supplies from the collaborator, the Comp. has taken necessary premission to indigenise the components.

- In addition to having been appointed as Authorised representative of Cessna business jet line of aircraft, the Comp. also expected to be appointed a the ASR for Cessnas Caravan Aircraft.

- During the year, as a part of its diversification programme the Comp. undertook to set up repairs & maintenance facilities for Cessna aircraft & was also exploring the posibility of expanding the flying academy facilities with the objective of making it an academy of international repute.

- 2,05,600 No. of equity shares of Rs. 10 each issued, subscribed & paid up. 112,94,400 No. of equity shares of Rs. 10 each then issued at par of which 62,94,500 shares were reserved for allotment on a firm basis to promoter company, promoters, directors etc. Of the balance, the following were reserved for allotment on a preferential basis to the following:

- [is] 1,50,000 shares to Indian working directors/workers of Comp. & promoting Comp. [only 1,23,400 shares taken ups].

- [iis] 5,00,000 to shareholders of promoter company.

- Balance 43,50,000 shares along with 26,600 shares not taken up by employees were issued to the public [all were taken ups].

2000 - The Comp. is setting up a software division to address the software needs of sector, leveraging its its domain knowlege with its Bangalore location.