The Ministry of Corporate Affairs vide Notification No. S.O. 4321(E)., Dated 03.10.2023 has announced that the provisions of a "moratorium" under the IBC will no longer cast their shadow over transactions, arrangements, or agreements pertaining to aircraft, aircraft engines, airframes, and helicopters, as governed by the Convention and the Protocol.
This article delves into the key rationale for the exemption from ‘moratorium’ provisions, the impact of Go First’s Insolvency on the Aviation Industry’s moratorium decision and how India’s aviation laws align with International Standards.
