Summary of the MCA Notification dated 03/10/2023.
This notification is integrated in our free-to-use website ca2013.com.
MCA exempts arrangements/ agreements relating to aircraft, aircraft engines etc from the application of moratorium provision under IB Code.
Central Government has notified that the provisions of declaration of Moratorium under IB Code, 2016 shall not apply to transactions, agreements and arrangements relating to aircraft, aircraft engines, airframes and helicopters.
This has been notified pursuant to the Convention on International Interests in Mobile Equipment and the Protocol therein on matters specific to aircraft equipment adopted under the joint auspices of International Civil Aviation Organization and the International Institute for the Unification of Private Law further accession of the said convention and protocol by India on 31/03/2008.