The Indian Government has recently implemented changes in the Insolvency and Bankruptcy Code (IBC) to exempt all aviation-related activities. The exemption is aimed at providing relief to aircraft leasing companies. Concurrently, over 100 Amazon River Dolphins were found dead possibly due to severe drought and heat complications. Meanwhile, fish mint, a herb native to Southeast Asia, known for its unique medicinal properties, has been garnering attention for its health benefits. Simultaneously, a noticeable trend of Circular Migration has been observed, wherein individuals migrate on a temporary basis between their country of origin and a destination country, mostly for job opportunities.
Government Exemption for Aviation from IBC’s Moratorium
The Ministry of Corporate Affairs (MCA) has taken a significant step by exempting transactions and agreements related to aircraft and their engines from the moratorium under Section 14 of the Insolvency and Bankruptcy Code (IBC), 2016. This exemption has provided considerable relief to aircraft lessors – companies that lease out aircraft to airlines. These companies faced difficulties when the National Company Law Tribunal (NCLT) prohibited them from repossessing planes from Go First, an Indian airline which had filed for insolvency. The directive is in line with the Cape Town Convention (CTC), an international treaty offering time-bound solutions for lessors to repossess aircraft, thus reducing their risks, including in the case of insolvency. India is also a signatory to this Convention.
Mysterious Death of Amazon River Dolphins
A worrying incident unfolded as more than 100 Amazon River Dolphins were found dead in a tributary of the Amazon river. The cause is speculated to be severe drought and unusually high temperatures. Known for their distinctive pink and gray colouration, these dolphins face vulnerabilities due to their slow reproductive cycles. These dolphins prefer freshwater and have adapted to live in the river systems of South America. Several species of these dolphins exist including the pink river dolphin and the gray river dolphin, both known for their distinct feeding pattern that involves using echolocation to locate fish.
Fish Mint: A Beneficial Herb
Fish mint, also known as Houttuynia cordata or chameleon plant, is a herb native to Southeast Asia which has been generating attention for its surprising health benefits. This plant does not visually resemble fish; however, its fish-like smell and taste earned it its peculiar name. It thrives in moist soils and is resistant to flooding. In India’s northeastern states, it has different names and is used widely in salads, fish recipes, and traditional remedies. Traditional Chinese and Japanese medicine, Ayurveda, and Siddha also celebrate its medicinal properties. Recent studies have highlighted its therapeutic potential in mitigating asthma symptoms, and combating infectious oral conditions among other benefits.
Circular Migration: A Balanced Approach to Migration
Circular migration refers to the recurring pattern of movement whereby individuals migrate between their country of origin and a destination country based on job availability. To qualify as circular migration, certain prerequisites must be met, including temporary residence, multiple entries into the destination country, freedom of movement, legal rights, protection of migrant rights, and a demand for temporary labor. This form of migration is seen as a balanced approach that fulfils economic demands of both origin and destination countries. It enables the exchange of skills, remittances, and labor without causing large-scale demographic changes. However, it does pose some challenges such as brain drain for origin countries and cultural conflicts in destination countries.
