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Legal Issues Framework

Legal Issues Framework. General Aviation: The Next Steps Indo-American Chamber of Commerce Seminar PHD House, March 6, 2013, New Delhi. Ravi NATH RNC legal / Rajinder Narain & Co. t: + 91 11 4122 5000 f: + 91 11 4122 5001 c: + 91 98110 27193 e: ravi.nath@rnclegal.com.

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Legal Issues Framework

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  1. Legal Issues Framework General Aviation: The Next Steps Indo-American Chamber of Commerce Seminar PHD House, March 6, 2013, New Delhi Ravi NATH RNClegal/ RajinderNarain & Co. t: + 91 11 4122 5000 f: + 91 11 4122 5001 c: + 91 98110 27193 e: ravi.nath@rnclegal.com

  2. Indian Aviation Market • Duopoly 189 Aircraft 181 Aircraft (As per DGCA website) Ravi NATH / rnclegal.com

  3. Other Manufacturers Ravi NATH / rnclegal.com

  4. Legislative Framework • Aircraft Act, 1934 • Aircraft Rules, 1937 • Civil Aviation Requirements (CAR) & Aeronautical Information Circulars (AIC) • Bilateral Treaties Ravi NATH / rnclegal.com

  5. Regulator and Other Authorities DGCA Registration – Aircraft Register. Does not establish legal ownership. Raises presumption of ownership and Security Interest. AAI Customs Ravi NATH / rnclegal.com

  6. 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 Ravi NATH / rnclegal.com

  7. FDI Ravi NATH / rnclegal.com

  8. 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 ??? !!! Ravi NATH / rnclegal.com

  9. Aviation Finance and Leasing • Purchase / Financing options • Leases • Wet or Dry • Operating Leases/ Finance Leases/ Hire Purchases • RBI Permission ? Ravi NATH / rnclegal.com

  10. Owners/ Lessors and Security Interest Holder Issues Deregistration & Repossession Choice of Jurisdiction & Choice of Law Enforcement of Foreign Decrees & Arbitral Awards Ravi NATH / rnclegal.com

  11. Enforcementof 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? Ravi NATH / rnclegal.com

  12. 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

  13. 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. Ravi NATH / rnclegal.com

  14. 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. Ravi NATH / rnclegal.com

  15. 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. Ravi NATH / rnclegal.com

  16. Q & A Ravi NATH / rnclegal.com

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