The Delhi High Court has directed the Directorate General of Civil Aviation (DGCA) to expedite the processing of deregistration applications filed by several lessors seeking to retrieve their 54 planes from the crisis-hit Go First airline. The court emphasized that the DGCA must complete the process within five working days.
Justice Tara Vitasta Ganju also issued a restraining order against the resolution professional (RP) appointed under the insolvency law, as well as the directors of Go First, prohibiting them from moving or taking away the planes, spare parts, documents, records, or any other material.
The high court further instructed the DGCA, Airports Authority of India (AAI), and their authorized representatives to assist the lessors and grant them access to the airports. It also permitted the lessors to export the aircraft by applicable rules and laws.
This judgment comes in response to petitions filed by several lessors who sought the deregistration of their planes from Go First so that they could reclaim them. The NCLT-appointed resolution professional had argued against returning the aircraft to the lessors, claiming it would render the airline, with its 7,000 employees, defunct.
With the court’s directive, the lessors hope to regain possession of their leased planes, which were inaccessible due to the ongoing insolvency resolution proceedings and the moratorium on financial obligations and asset transfers. The lessors challenged the DGCA’s denial of deregistration as illegitimate.
The court’s decision offers a potential resolution for the lessors, paving the way for the retrieval and potential export of the aircraft and addressing their concerns amid the airline’s financial turmoil.
