Insolvency and Bankruptcy Code, 2016 shall not apply to transactions, arrangements or agreements, under the Convention and the Protocol, relating to aircraft, aircraft engines, airframes and helicopters. - S.O. 4321(E) - Insolvency and Bankruptcy
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Exclusion of insolvency moratorium for Cape Town Convention aircraft transactions preserves Convention based international interests over domestic stay. The Central Government notifies that the moratorium provision of the Insolvency and Bankruptcy Code, 2016 shall not apply to transactions, arrangements or agreements under the Convention on International Interests in Mobile Equipment and the Aircraft Protocol insofar as they relate to aircraft, aircraft engines, airframes and helicopters, thereby excluding Convention based international interests in specified aircraft equipment from the domestic moratorium mechanism.
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Provisions expressly mentioned in the judgment/order text.
Exclusion of insolvency moratorium for Cape Town Convention aircraft transactions preserves Convention based international interests over domestic stay.
The Central Government notifies that the moratorium provision of the Insolvency and Bankruptcy Code, 2016 shall not apply to transactions, arrangements or agreements under the Convention on International Interests in Mobile Equipment and the Aircraft Protocol insofar as they relate to aircraft, aircraft engines, airframes and helicopters, thereby excluding Convention based international interests in specified aircraft equipment from the domestic moratorium mechanism.
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