The International Financial Services Centres Authority (IFSCA) on February 26, 2025, notified regarding the Amendment to the ‘Framework for Aircraft Lease’ with regard to transactions with persons’ resident in India.
The following has been stated namely: -
• It states that Clause O.2. of the AL framework shall be replaced as follows: No Lessor shall acquire any asset under this framework if it will be solely operated or used by persons’ resident in India or to provide services to them, except when acquired from a non-Group Entity, as part of a sale and leaseback arrangement for assets imported into India for the first time, or from an Indian manufacturer.
[Notification no. - 172/IFSCA/Finance Company Regulations/2024-25/02]
