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Jagson Airlines

BSE: 520139|ISIN: INE685B01018|SECTOR: Transport & Logistics
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Company History - Jagson Airlines
YEAR                       EVENTS
 1994 - Jagsons Airlines Limited (JAL) was incorporated on 3rd
 January,
        under the Companies Act, 1956 to operate air-taxi services in
 
        India under the open sky policy of the Government.  The
 company
        signed a Memorandum of Understanding on 4th May, with `Jagson
        International Ltd.,' a group company to take over on lease
 basis
        the entire airline operations of Jagson Airlines, a division
 of 
        Jagson International Ltd.  The company was promoted by J.P.
 Gupta
        and Pradeep Kumar Gupta and their associates.
 
      - The main object of the company is to Provide air-taxi services
 
        for transport of passengers, mail, cargo and/or freight and
 to
        cater to domestic and international tourist traffic.
 
      - As per the terms of MOU between the company and Jagson 
        International Ltd., the company was to acquire four aircraft
 -
        Two Dornier 228 and two Dornier 328 on lease from Jagson 
        International Ltd.
 
      - The company was also to deposit with Dornier or Jagson 
        International Ltd. towards advance lease rental for six
 months.
 
      - The company proposed to start an air taxi service with two 
        aircraft immediately and two aircraft to be added later on
 under
        the governments open sky policy.
 
      - The Company commenced operations as private airlines with one
 
        Dornier taken on lease from M/s. Jagson International Ltd.,
        Delhi.  One more Dornier as inducted to its fleet.  
 
      - 700 No. of equity shares submitted for 4 signatories to 
        Memorandum of Associates.  105,79,300 No. of equity shares
 were
        issued for cash at par as follows:
 
      - (1) 26,79,300 shares on firm allotment basis is promoter,
        directors etc.
 
      - Of the remaining the following were offered on preferential 
        basis:
 
      - (i) 15,80,000 shares to Mutual Funds: (None were taken up);
 
      - (ii) 7,90,000 shares to NRIs/OCDs (all were taken up);
 
      - (iii) 8,200 shares to employees (only 4000 shares taken up).
 
      - Balance 55,21,800 shares along with unsubscribed to public
 from 
        preferential quota were issued to public (all were taken up).
 
        Additional 67,200 shares were allotted to retain 
        oversubscription.
 
 2003
 
 Ms Shweta Singh has joined the company as Company Secretary w.e.f.
 December 15, 2003 and she will be acting as Compliance Officer in
 place of Mr Gaurav Puri who resigned from the post of Company
 Secretary on November 18, 2003.
 
 2008
 -Company has Created email id  for grievance redressal division
 jagson-id@eth.net.
 
 
Source : Dion Global Solutions Limited
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