Act Number: 13

Act Name: The Air Corporations (Transfer of Undertakings and Repeal) Act, 1994

Year: 1994

Enactment Date: 1994-03-21

Long Title: An Act to provide for the transfer and vesting of the undertakings of Indian Airlines and Air India respectively to and in the companies formed and registered as Indian Airlines Limited and Air India Limited and for matters connected therewith or incidental thereto and also to repeal the Air Corporations Act, 1953.

Ministry: Ministry of Civil Aviation

Department:

Section 7: Guarantee to be operative.
    Any guarantee given for or in favour of a corporation with respect to any loan or lease finance shall continue to be operative in relation to the company in which the undertaking of that corporation has vested by virtue of this Act.
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