INDIA Law and Practice Contributed by: Nitin Sarin and Vistasp Irani, Sarin & Co
4.2 Current Legislative Proposals The Aircraft Objects Act provides for subordinate leg - islation to be passed on a number of aspects, per - taining to notice to the DGCA prior to exercising the remedies available under the Act and Convention, the collection of information regarding dues, etc. These pieces of subordinate legislation are yet to be framed and notified by the government of India. Additionally, the proposed Bharatiya Vayuyan Niy - am, 2025 (the “Proposed Rules”) framed under the Bharatiya Vayuyan Adhiniyam, 2024, these Proposed Rules are meant to replace the existing Aircraft Rules 1937 and introduce changes to the existing rules for flight operation norms, and operational safety proto - cols. Public feedback has been invited until 10 August 2025 on these Proposed Rules, thereafter which, fur - ther steps will be taken to notify and enact the Pro - posed Rules.
3.4.9 Taxes/Fees Payable There are no major taxes or fees that a secured party would be required to bear in connection with enforcing a security agreement/aircraft mortgage. 3.4.10 Other Relevant Issues From a practical standpoint, since the courts in India are overburdened with work, lenders have preferred to have security documents governed by English law, and any enforcement takes place in England. The UK is a reciprocating territory, and money decrees passed in the UK may be enforced in India much more easily than decrees from non-reciprocating territories. 4. Other Issues of Note 4.1 Issues Relevant to Domestic Purchase, Sale, Lease or Debt Finance of Aircraft This is not applicable under Indian law.
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