This means that the airline will have to give back all 54 aircraft to the lessors if its resolution professional (RP) does not challenge the order or ask for a stay.
Justice Tara Vitasta Ganju also refused the request of the RP, represented by advocate Diwakar Maheshwari, to keep the operation of the order in abeyance for a week to enable them to file an appeal before the division Bench of the court.
"The five days will start from Monday, so you have time to approach the court,” Justice Ganju said. Disposing of a batch of pleas moved by the lessors, Justice Ganju also set aside the communication letters issued by the Director General of Civil Aviation (DGCA) declining to process new registration applications of the lessors.
The court ordered that all maintenance tasks with respect to the aircraft will be undertaken by the lessors and all their authorised representatives up to and until the time the aircraft are de-registered and exported, in pursuance of Rule 32A of the Aircraft Rules.
This story is from the April 27, 2024 edition of Business Standard.
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This story is from the April 27, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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