The judgment addresses 14 petitions filed by lessors/owners of aircraft leased to Go Air (India) Ltd. The lessors sought deregistration of their aircraft by the Directorate General of Civil Aviation (DGCA) due to Go Air's defaults in lease rental payments. Go Air initiated insolvency proceedings under Section 10 of the Insolvency and Bankruptcy Code (IBC), leading to a moratorium imposed by the National Company Law Tribunal (NCLT). The DGCA declined to deregister the aircraft, citing the NCLT's moratorium. The lessors challenged this decision, arguing that deregistration is mandatory under Aircraft Rules and the Cape Town Convention, and that the NCLT lacks jurisdiction over this matter.
Go Air (India) Ltd. leased 54 aircraft from 14 lessors for a 10-year period. Due to defaults in lease rental payments, the lessors terminated the lease agreements between May 2nd and May 4th, 2023, and sent termination notices to Go Air. The lessors also submitted deregistration applications to the DGCA. Go Air initiated insolvency proceedings under Section 10 of the IBC, and the NCLT imposed a moratorium on May 10th, 2023. The DGCA declined to deregister the aircraft, citing the NCLT's moratorium. The lessors challenged this decision in the High Court, arguing that deregistration is mandatory under Aircraft Rules and the Cape Town Convention. The Ministry of Corporate Affairs (MCA) issued a notification on October 3rd, 2023, excluding aircraft assets from the IBC
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India acceded to the…
Petitioners/Lessors sent Termination…
The judgment addresses 14 petitions filed by lessors/owners of aircraft leased to Go Air (India) Ltd. The lessors sought deregistration of their aircraft by the Directorate General of Civil Aviation (DGCA) due to Go Air's defaults in lease rental payments. Go Air initiated insolvency proceedings under Section 10 of the Insolvency and Bankruptcy Code (IBC), leading to a moratorium imposed by the National Company Law Tribunal (NCLT). The DGCA declined to deregister the aircraft, citing the NCLT's moratorium. The lessors challenged this decision, arguing that deregistration is mandatory under Aircraft Rules and the Cape Town Convention, and that the NCLT lacks jurisdiction over this matter.
Go Air (India) Ltd. leased 54 aircraft from 14 lessors for a 10-year period. Due to defaults in lease rental payments, the lessors terminated the lease agreements between May 2nd and May 4th, 2023, and sent termination notices to Go Air. The lessors also submitted deregistration applications to the DGCA. Go Air initiated insolvency proceedings under Section 10 of the IBC, and the NCLT imposed a moratorium on May 10th, 2023. The DGCA declined to deregister the aircraft, citing the NCLT's moratorium. The lessors challenged this decision in the High Court, arguing that deregistration is mandatory under Aircraft Rules and the Cape Town Convention. The Ministry of Corporate Affairs (MCA) issued a notification on October 3rd, 2023, excluding aircraft assets from the IBC
…India acceded to the…
Petitioners/Lessors sent Termination…