India to Ratify Cape Town Convention:
The Union Cabinet has approved the Protection and Enforcement of Interests in Aircraft Objects Bill to strengthen India’s aviation framework and align it with global standards.It aims to ratify and enforce the provisions of the Convention on International Interests in Mobile Equipment (Cape Town Convention), and Protocol on Matters Specific to Aircraft Equipment (Cape Town Protocol).The CTC is an international treaty that allows creditors, such as lessors, lenders, and financiers, to repossess high-value mobile assets like aircraft, engines, and helicopters if the airline defaults on lease payments.It was adopted in Cape Town, South Africa, in 2001.
