The Court passed the order on 14 petitions filed by various companies who had leased their aircraft to Go First Airlines, which is undergoing insolvency at present.
The aircraft lessors had stated that they had filed applications for the de-registration of their aircrafts, but the same were rejected by the DGCA.
It was argued that the Insolvency and Bankruptcy Code (IBC) did not have relevant provisions for dealing with cases pertaining to de-registration, and hence, even bankruptcy tribunals were not competent to hear their pleas.
Source: Barandbench
