# In the matter of Accipiter Investments Aircraft 2 Ltd. & Ors. vs. Interim Resolution Professional of Go Airlines (India) Ltd., Abhilash Lal Company Appeal (AT) (Insolvency) No. 631,633 & 649 of 2023

> NCLAT judgment dated 2023-05-24. Citation: TCN-2023-NCLAT-00503. The case involves three appeals (631, 633, and 649 of 2023) filed against the order dated…

- **Court:** NCLAT
- **Order date:** 24 May 2023
- **Citation:** TCN-2023-NCLAT-00503
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/accipiter-investments-aircraft-2-ltd-ors-vs-interim-resolution-professional-of-g-8d4f7892

## Summary

### Background

The case involves three appeals (631, 633, and 649 of 2023) filed against the order dated 10.05.2023 passed by the National Company Law Tribunal (NCLT), New Delhi, which admitted a Section 10 application filed by the Corporate Applicant, Go Airlines (India) Limited. The appeals concern the applicability of moratorium on aircraft leases terminated before the admission of the Section 10 application.

## Facts

The National Company Law Tribunal (NCLT), New Delhi, admitted a Section 10 application filed by Go Airlines (India) Limited. Accipiter Investments Aircraft 2 Ltd., Eos Aviation 12 (Ireland) Ltd., and ACG Aircraft Leasing Ireland Ltd. filed appeals against this order. The appeals raised similar facts and submissions as those in Company Appeal (AT) (Insolvency) No. 593 of 2023, which concerned SMBC Aviation Capital Ltd. vs. Interim Resolution Professional of Go Airlines (India) Ltd., Abhilash Lal. The core issue revolves around the admission of the Section 10 application and the applicability of a moratorium on aircraft leases that were terminated before the admission of the Section 10 application. The appellants are aircraft leasing companies. Go Airlines (India)

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## Issues and analysis

### Issue 1: Whether the order dated 10.05.2023 admitting …

**Ratio:** The order admitting the Section 10 application is upheld based on the facts and

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**Reasoning:** The court reasoned that since the facts and submissions were the same as in the

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**Interpretation:** The interpretation is that if the core issues and facts are substantially

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**Application:** The court applied this principle by referencing the earlier decision in Company

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## Parties

- **Judges:** Ashok Bh…; Naresh Sa…
- **Appellants:** Accipiter…
- **Respondents:** Go Airlines…; Interim Resolution…
- **Advocates:** Satvik…; Ankur Mah…; +10 more

## Timeline

- **2023-05-10 — NCLT Ord…**: The National Company Law Tribunal (NCLT), New Delhi, passed an order admitting Section 10…
- **2023-05-22 — Reference Ju…**: Judgement and order dated 22nd May, 2023 in Company Appeal (AT) (Insolvency) No. 593 of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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