ACG Aircraft Leasing Ireland, a lessor of Go First airlines, has petitioned the Delhi High Court seeking deregistration of its leased aircraft due to a change in law. The Directorate General of Civil Aviation (DGCA) had suspended the applications for deregistration and export of the aircraft. ACG cites the Ministry of Corporate Affairs' notification that exempts aircraft-related transactions from the Insolvency and Bankruptcy Code. This development is significant considering Go First's insolvency resolution proceedings and the moratorium granted by the National Company Law Tribunal.
