The Directorate General of Civil Aviation (DGCA)'s "financial surveillance from safety perspective" is in final stages after which some airlines would be termed 'distressed' and their operations will be subject to thorough scrutiny. The move by the regulator is to ensure the aircraft of financially-strained airlines are safe.
DGCA is also scanning the operations from safety side of the few well off airlines and they too may come under scrutiny. "
Once an airline is declared distressed, the DGCA is obliged to take steps to ensure passengers fly safely.