NCLT approves Air India-Vistara merger

In a 31-page order, the Chandigarh bench of the NCLT approved the “composite scheme of arrangement” involving Talace, Air India and Vistara. All are part of the Tata Group.

Air India expects the merger to be completed by the end of this year.

A two-member bench of the Chandigarh bench of NCLT observed that the scheme has already received necessary approvals from the shareholders and creditors of both airline companies.

Moreover, it has also received applicable approvals including that…