NCLT to hear plea by Go First lessors on August 4

livemint.com:

New Delhi: The National Company law Tribunal (NCLT) heard pleas by engine and aircraft lessors of Go First, who are seeking an interim relief from court to inspect planes and engines and deferred the matter till August 4. During the hearing, senior advocate Arun Kathpalia, who appeared on behalf of one of the lessors, argued that the Delhi HC order to grant access to lessors to their 30 parked aircraft is binding on the tribunal and on the Indian civil aviation regulator DGCA.

The counsel cited the country’s aviation regulatory framework and Cape Town Convention to convince the court that an airline cannot cannot fly the aircraft after the termination of the lease agreement.   The Delhi high court, in an interim order on Wednesday, directed the Directorate General of Civil Aviation (DGCA) and airport authorities to allow Go First’s lessors’ representatives and officers to inspect the 30 parked aircraft within the next three days.  The NCLT matter has now been rescheduled to 4 August and the tribunal has given three weeks time to lessors and the resolution professional to file an additional affidavit and rejoinder in the matter. Low-cost carrier Go First is expected to challenge the Delhi High Court’s order dated 5 July whereby the lessors were granted access to the grounded aircraft for maintenance, the lawyer appearing for Resolution Professional Shailendra Ajmera told the NCLT today.  According to the lessors, the rules dictate that there must be a lease agreement in place for a valid licence and for registration of an aircraft.