A challenge to the National Company Law Tribunal’s (NCLT) judgment allowing the grounded airline Go First to operate leased aircraft has been filed by Jackson Square Aviation Ireland Ltd with the National Company Law Appellate Tribunal (NCLAT).
After Engine Lease Finance BV, Jackson is the second lessor to contact the appellate tribunal. On August 18, the NCLAT modified the NCLT’s order from July 26 to allow the engine lessor to check the four engines that were leased to Go First.
The tribunal is anticipated to hear the lessor’s appeal, which was listed at the registrar’s court today, during the upcoming week. The Registrar’s Court is in charge of examining the legal compliance of the pleadings submitted by the plaintiffs.
On July 26, the NCLT declined to impose restrictions on Go First’s use of leased aircraft for its operations, citing the importance of such aircraft to Go First’s ability to continue as a going concern.
The DGCA has not deregistered the aircraft, which implies that Go First can utilize them to restart operations, according to the tribunal’s order. Therefore, as long as the aircraft/engines are registered, they may be utilized for operating or flying to maintain Go First as a going concern, as long as they do so in accordance with the security measures and safety standards established by the regulators.
The NCLT denied the lessors’ request to inspect their aircraft and engines and ruled that the Resolution Professional (RP) had previously been instructed to uphold that directive in a previous order from June 15 when it was issued. The tribunal has only provided relief to the lessors insofar as the RP has taken care of the aircraft and engines’ protection and upkeep.
