The Ministry of Corporate Affairs vide 3rd October, 2023 has notified that the moratorium declared under IBC Code 2016 shall not apply to transactions, arrangements or agreements, under the Convention on International Interests in Mobile Equipment on Matters specific to Aircraft Equipment and the Protocol, relating to aircraft, aircraft engines, airframes and helicopters.
This is in furtherance of compliance with the Convention on International Interests in Mobile Equipment and the Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Aircraft Equipment adopted under the joint auspices of International Civil Aviation Organization and the International institute for the Unification of Private Law concluded at Cape Town on 16th November, 2001, to which India is a signatory.
