Govt changes insolvency rules, makes it easier for lessors to recover planes if airline goes bankrupt

The government's notification to exempt transactions involving aircraft, aircraft engines, and helicopters from the Insolvency and Bankruptcy Code (IBC) comes amid the ongoing insolvency proceedings of Go First, the Wadia Group-owned airline.

Govt changes insolvency rules, makes it easier for
Go First had filed for voluntary insolvency in the National Company Law Tribunal (NCLT) on May 2 (Representational/File image)

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