Legal Issues Framework Ravi NATH RNClegal/ Rajinder Narain & Co. t: + 91 11 4122 5000 t: + 91 11...
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Transcript of Legal Issues Framework Ravi NATH RNClegal/ Rajinder Narain & Co. t: + 91 11 4122 5000 t: + 91 11...
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Legal Issues Framework
Ravi NATHRavi NATH
RNCRNClegal/ legal/ Rajinder Narain & Co.Rajinder Narain & Co. t: + 91 11 4122 5000t: + 91 11 4122 5000 f: + 91 11 4122 5001f: + 91 11 4122 5001c: + 91 98110 27193c: + 91 98110 27193
e: e: [email protected]@rnclegal.com
General Aviation: The Next Steps
Indo-American Chamber of Commerce Seminar
PHD House, March 6, 2013, New Delhi
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Indian Aviation Market
Duopoly
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189 Aircraft
181 Aircraft (As per DGCA website)
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Other Manufacturers
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Legislative Framework
• Aircraft Act, 1934
• Aircraft Rules, 1937
• Civil Aviation Requirements (CAR) & Aeronautical Information Circulars (AIC)
• Bilateral Treaties
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Regulator and Other Authorities
DGCA
Registration – Aircraft Register.
Does not establish legal ownership. Raises presumption of ownership and Security Interest.
AAI
Customs
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Indo-US Agreements
The International Air Transport Agreement, 1944 – Fifth Freedom Agreement
Air Transport Agreement 2005 (‘Open Skies’)
Bilateral Aviation Safety Agreement
India-US Aviation Cooperation Program
Indo-US DTAA
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FDI
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FDI
Equity investments by foreign airlines up to 49%.
Only through ‘Approval Route’.
Chairman and two-thirds of the Directors must be citizens.
Deals: Jet-Etihad / AirAsia-TATA
Kingfisher ??? !!!
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Aviation Finance and Leasing
Purchase / Financing options
Leases
Wet or Dry
Operating Leases/ Finance Leases/ Hire Purchases
− RBI Permission ?
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Owners/ Lessors and Security Interest Holder Issues
Enforcement of Foreign Decrees
&
Arbitral Awards
Deregistration & Repossession
Choice of Jurisdiction
&
Choice of Law
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Enforcement of Foreign Decrees
From Higher Courts of Reciprocating Territories
Section 13, CPC
Section 44A , CPC
From Non-Reciprocating Territories
Suit based on the foreign judgment/ decree.
Implications?
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Arbitral Award Enforcement Foreign awards under New York and Geneva Conventions enforceable
(Part II of Arbitration and Conciliation Act, 1996.)
Enforcement can be refused if, for e.g.:
Parties under incapacity, Arbitration Agreement invalid.
Improper notice of Arbitrator appointment/ Arbitral proceedings improper.
Arbitration not conducted in accordance with the Agreement or Governing Law.
Party otherwise unable to present its case.
Award on matter beyond scope of Arbitration Agreement.
Subject not arbitral under Indian Law.
Award set aside/ suspended by competent authority.
Public policy.Ravi NATH / rnclegal.com
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Deregistration
Bureaucracy - DGCA issues Consent of the Indian Lessee
Role of IDERA / DPoA
Liens - AAI / Mechanic’s Lien: Rights?
Taxes - Service and other taxes : Rights?
Recent Experience – DVB et al.
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Cape Town Convention
Ratified by India in 2008. Ratified by 56 countries.
Registration of International Interest, Remedies for Default, Repossession, IDERA
Aviation Authorities are enjoined to act in accordance with the holders of IDERAs without the necessity of a Court Order.
But no underpinning Legislation in India. Therefore, conflicts arise.
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Treaty Conflicts
Self-help – Art. 8 - ???
Speedy Relief – Art. 13 - ???
Registration of Charges at IR and the ROC under Section 125 of the Companies Act.
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Q & A
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