AIRCRAFT SALE'S FLIES

An aircraft has been sold and the buyer has leased it to a third party, and now the original seller awaits anxiously at the conveyor belt of court judgments and RBI rules to collect the payment.

The Gujarat high court on Wednesday issued notices to two aviation companies over an appeal to restrain them from “dealing with” a $2.5 million aircraft. The aircraft was sold but the payment could not be made because the RBI has not cleared the remittance citing the Centre’s rules.

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