The Delhi High Court on Thursday told the Director General of Civil Aviation (DGCA) to submit a response on whether the Ministry of Corporate Affairs’ notification exempting all transactions and agreements related to aircraft and their engines from the moratorium under the Insolvency and Bankruptcy Code (IBC) applies to the Go First case.
A moratorium period is the suspension of all or certain legal remedies against debtors.
The court was hearing a case by aircraft and engine lessors of Go First against the DGCA for the release of their aircraft.
