Rajiv Shakdher, J.

1. The petitioner before me, is the mortgagee of Bombardier Challenger Aircraft 300, bearing manufacturer’s serial no. 20174 (hereinafter referred to as the `Aircraft’), ‘assigned call sign VT-RAK, by the Indian authorities. The Aircraft, which is owned by respondent no. 2, i.e., Peel Aviation Ltd (in short PAL), was leased to an Indian company by the name of Golden Wings Pvt. Ltd. (in short GWPL).

1.1 Under a financing arrangement, a loan was extended by the petitioner to PAL which was secured by creating a mortgage on the said aircraft.

1.2 The instrument of mortgage, inter alia confers on the petitioner the right to seek de-registration of the Aircraft, from the jurisdiction of the concerned State Registry. The State Registry, is defined in the instrument of mortgage, as the national jurisdiction; in which the aircraft is registered; which presently would be India.

2. The petitioner seeks to exercise, its right of de-registration, which is resisted by respondent no. 1, i.e., the Director General of Civil Aviation (in short DGCA) at the behest of the Directorate of Revenue Intelligence (in short DRI), i.e., respondent no. 3. An intimation in this beha