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Nov 26, 2024

Cape Town Convention compliance – India update

The Aviation Working Group has increased India’s variable score by its Score Adjustment Notice dated November 25, 2024 (AWG Notice) and removed India from the Cape Town Convention (CTC) compliance index watchlist. India is now in the Medium category (for likelihood of compliance with CTC) with an adjusted score of 61 (increased from 50). India’s Variable A score (regarding legal implementation of CTC nationally, in terms of primacy and completeness) stands increased from 2 to 3 and Variable B score (regarding CTC compliance precedents applying CTC, including judicial or administrative precedents and practical experience) stands increased from 2 to 3.

The AWG Notice states that the notification dated October 3, 2023 issued by the Ministry of Corporate Affairs, Government of India (October 3 Notification) “addresses a critical source of conflict between CTC and the IBC 2016, in favour of the priority of CTC”. The AWG Notice further states that together with the ruling of the High Court of Delhi on April 26, 2024 in the GoFirst insolvency proceedings, the October 3 Notification “resolves a significant gap in CTC primacy in India in a CTC-compliant manner”.

For enquiries, please contact Aviation.Mumbai@azbpartners.com.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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