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Taneja Aerospace and Aviation (TAAL)

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Taneja Aerospace and Aviation (TAAL) was incorporated in Jul.'88 and received the licence to manufacture gliders in 1990. It was promoted by B R Taneja and Indian Seamless Metal Tubes (ISMT). Other companies of the Indian Seamless group are Indian Seamless Steels and Alloys, Indian Seamless Finance Services, etc. It came out with a public issue of 50 lac equity shares at par in Apr.'94, aggregating Rs 5 cr, to part-finance the Rs 20.5-cr project to manufacture light transport aircraft at Denkanikotta, Tamilnadu. TAAL is India's only manufacturer of six- to eleven-seater civilian aircraft, in the private sector. The company has technical collaborations with Partenavia Construzioni Aeronautiche, Italy, to manufacture the P68 Observer, and with National Aerospace Laboratory to manufacture light twin-seater trainer aircraft. Recently, it entered into an agreement with Cessna Aircraft to market the jet aircraft, Citation Ultra. It recently bagged an exclusive service contract from Bell Helicopters. As a part of the on going diversification programme the company is setting up a repairs & maintenance facilities for cessna aircraft. Total capital outlay of Rs.6.85 crores has been planned for the above activities with the term loan assistance from IDBI. Also TAAL received the 'Creative Partner' award from the Aeronautical Development in recognition of its effert towards the production of the Remote Pilotless Vehicle. In 1998-99 the all composite trainer aircarft "Hansa 3" developed by National Aerospace Laboratories (NAL) in association with the company is ready to go into commercial production at TAAL once the programme of transfer of technology is completed. During 1999-2000, the company introduced a fractional-ownership scheme called Corporate Aircraft Program (CAP) which has been received favourably by Indian Corporates. The high technology Transducer Housing assembly developed indigenously by the company for the first time for a leading National Technological Developmental Laboratory was well received. The share capi
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