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The Delhi High Court on Thursday allowed aircraft lessors of cash-strapped Go First airline to engage security personnel around-the-clock for safeguarding their aircraft parked at rest for several months.In an interim order on July 5, the court ...
Justice Ganju said the RP will continue to maintain the airline and that these directions have been passed in addition to the earlier directions of the HC.
The dispute emanated from a gas supply agreement entered into between Essar Steel Limited and IOCL in 2009, prior to Essar being taken over by Arcelor Mittal Nippon Steels almost a decade later
Section 14 (1) of the IBC 2016 deals with moratorium that a court can order to protect a corporate debtor undergoing either insolvency or bankruptcy, including recovery of any property by an owner or lessor in the possession of the debtor.
Senior advocate Neeraj Kishan Kaul, who appeared for the RP told the court that he will have to consult with the Committee of Creditors (CoC) to understand the further course of action in the case