(1) With effect from such date as the Central Government may, by notification in the Official Gazette, specify, the Corporation established under section 3 of the principal Act known as "Air India International" shall be renamed as "Air India".
     (2) The change of name of "Air India International" by sub-section (1) shall not affect any rights and obligations of that Corporation or render defective any legal proceedings by or against it, and any legal proceedings which might have been continued or commenced by or against that Corporation by its former name may be continued or commenced by or against it, by its new name.