+
NCLAT grants Go First Lessor Bluesky 19 Plane inspection
AVIATION & AIRPORTS

NCLAT grants Go First Lessor Bluesky 19 Plane inspection

The National Company Law Appellate Tribunal granted permission to Bluesky 19 Leasing Company, an aircraft lessor, to inspect the planes it had leased to Go First, a company currently undergoing insolvency proceedings. This marked the third instance where a lessor of Go First received such relief from the appellate tribunal. Engine Lease Finance BV, an engine lessor, and Jackson Square Aviation Ireland, an aircraft lessor, had previously been granted similar rights.

The counsel representing Bluesky 19 Leasing had appealed to the NCLAT, seeking clarification on the rights of lessors to contest issues other than inspection. However, the bench dismissed the appeal, stating that its previous decision in the ELFBV case had already provided clear guidance on the matter.

The National Company Law Appellate Tribunal granted permission to Bluesky 19 Leasing Company, an aircraft lessor, to inspect the planes it had leased to Go First, a company currently undergoing insolvency proceedings. This marked the third instance where a lessor of Go First received such relief from the appellate tribunal. Engine Lease Finance BV, an engine lessor, and Jackson Square Aviation Ireland, an aircraft lessor, had previously been granted similar rights. The counsel representing Bluesky 19 Leasing had appealed to the NCLAT, seeking clarification on the rights of lessors to contest issues other than inspection. However, the bench dismissed the appeal, stating that its previous decision in the ELFBV case had already provided clear guidance on the matter.

Next Story
Real Estate

Adani Signs Deal for Rs 360 Billion Goregaon Project

Adani Properties, the real estate arm of the Adani Group, has signed an agreement with the Maharashtra Housing and Area Development Authority (MHADA) to undertake the redevelopment of Motilal Nagar in Goregaon (West), Mumbai. The deal marks one of the largest urban renewal projects in the country, valued at approximately Rs 360 billion.MHADA has appointed Adani Properties as the construction and development (C&D) agency to redevelop the Motilal Nagar 1, 2 and 3 colonies. In March, Adani Properties emerged as the highest bidder for the 142-acre project, outbidding L&T Realty. This will ..

Next Story
Real Estate

Omaxe to Build Rs 12 Billion Township in Indore

Real estate developer Omaxe Ltd has acquired 450 acres of land in Indore, Madhya Pradesh, to develop an integrated township, marking a significant expansion into Tier-II cities. The project will involve an investment of Rs 12 billion and is expected to generate revenue of around Rs 25 billion over the next three years.In a regulatory filing on Tuesday, the company announced its plans to expand operations in Madhya Pradesh with this acquisition. The development will be carried out in multiple phases and financed through internal accruals.The planned township will feature residential plots, hous..

Next Story
Infrastructure Urban

Lupin and Zentiva Sign Pact to Commercialise Certolizumab

Global Pharma major Lupin (Lupin) and Zentiva Group (Zentiva), a pan-European pharmaceutical company, have entered into a license and supply agreement for commercialisation of Lupin’s biosimilar Certolizumab Pegol, across multiple markets globally.This strategic alliance aims to accelerate the availability of high-quality, cost-effective biosimilar Certolizumab Pegol to patients worldwide.Lupin will be responsible for the development, manufacturing and supply of the product within the agreed territories. Zentiva will oversee commercialization activities outside USA and Canada, predominantly ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?