Global aircraft financiers flag issues with India's repossession draft rule

Wait 5 sec.

The draft, which seeks to implement the Cape Town Convention (CTC), makes it mandatory for creditors-through the Irrevocable De-registration and Export Request Authorisation (IDERA) holder-to clear a wide set of dues before exporting aircraft from the country. This includes unpaid employee wages and provident fund, airport operator fees, navigation charges, fuel bills, and GST on leases or financing.