The Resolution Professional (RP) filed MA 2387/2019 seeking a restraining order against the Respondent from de-registering the Aircraft until the Corporate Insolvency Resolution Process (CIRP) is completed. The applicant contends that the Corporate Debtor is the registered operator of the Aircraft, which is an asset acquired through a lease agreement. The Respondent received an Irrevocable De-registration and Export Requested Authorisation (IDERA) and issued a public notice. The holder of the IDERA right requested de-registration of the Aircraft. The RP argues that de-registration would violate the moratorium under Section 14 of the Insolvency and Bankruptcy Code (IBC), 2016, and assist the Lessor in unlawful recovery of property. The RP also stated that the DGCA has

The Resolution Professional (RP) filed MA 2387/2019 seeking a restraining order against the Respondent from de-registering the Aircraft until the Corporate Insolvency Resolution Process (CIRP) is completed. The applicant contends that the Corporate Debtor is the registered operator of the Aircraft, which is an asset acquired through a lease agreement. The Respondent received an Irrevocable De-registration and Export Requested Authorisation (IDERA) and issued a public notice. The holder of the IDERA right requested de-registration of the Aircraft. The RP argues that de-registration would violate the moratorium under Section 14 of the Insolvency and Bankruptcy Code (IBC), 2016, and assist the Lessor in unlawful recovery of property. The RP also stated that the DGCA has