Gazette Tracker
Gazette Tracker

Core Purpose

Notification exempting aircraft-related transactions under the Cape Town Convention from the moratorium provisions of section 14(1) of the Insolvency and Bankruptcy Code, 2016.

Detailed Summary

By S.O. 4321(E) dated 3rd October 2023, the Ministry of Corporate Affairs, exercising powers under clause (a) of sub-section (3) of section 14 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), notified that the moratorium under sub-section (1) of section 14 of the Code shall not apply to transactions, arrangements, or agreements relating to aircraft, aircraft engines, airframes, and helicopters under the Convention on International Interests in Mobile Equipment and its Protocol on Matters Specific to Aircraft Equipment, both adopted under the joint auspices of the International Civil Aviation Organization and the International Institute for the Unification of Private Law at Cape Town on 16th November 2001, noting that India acceded to the Convention and Protocol by depositing instruments of accession with the International Institute for the Unification of Private Law on 31.03.2008. The notification is filed under F. No. Insol-30/9/2020-Insolvency-MCA and signed by Anita Shah Akella, Joint Secretary.

Full Text

6270 GI/202 3 (1) रजिस्ट्री सं. डी.एल.- 33004/99 REGD. No . D. L. -33004/99 EXTRAORDINARY PART II —Section 3 —Sub-section ( ii) PUBLISHED BY AUTHORITY No. 4150] NEW DELHI, TUESDAY , OCTOBER 3 , 2023/ ASVINA 11, 1945 CG-DL-E-04102023-249132 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 3rd Octo ber, 2023 S.O. 4321(E).—WHEREAS, the Convention on I nternational Interests in Mobile Equipment and the Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Aircraft Equipment were adopted under the joint auspices of Internat ional Civil Aviation Organization and th e International Institute for the Unification of Private Law concluded at Cape Town on 16th November, 2001; AND WHEREAS, India, being a signatory to and having acceded the Convention and the Protocol by depositing with the International Institute for the U nification of Private Law the i nstruments of accession on 31.03.2008; Now, therefore, in exercise of the powers conferred by clause (a) of sub -section (3) of section 14 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby notifies that the provisions of sub-section (1) of section 14 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), shall not apply to transactions, arrangements or agreements, under the Convention and the Protocol, relating to aircraft, aircraft engi nes, airframes and helicopters. [F. No. Insol -30/9/2020 -Insolvency -MCA ] ANITA SHAH AKELLA , Jt. Secy . Uploaded by Dte. of Printing at Government of India Press, Ring R oad, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, Delhi -110054.

Never miss important gazettes

Create a free account to save gazettes, add notes, and get email alerts for keywords you care about.

Sign Up Free