NCLT reserves order on Go First’s plea for interim moratorium, bankruptcy
1 year, 10 months ago

NCLT reserves order on Go First’s plea for interim moratorium, bankruptcy

Hindustan Times  

The principal bench of the National Company Law Tribunal on Thursday reserved its order on a plea by Go First seeking an interim moratorium to prevent the seizure of its 26 aircraft. Go First filed for insolvency resolution proceedings in the National Company Law Tribunal on Tuesday The cash-strapped airline Go First filed for bankruptcy on Tuesday and as an interim measure sought a moratorium to prevent lessors from taking possession of planes. In its application before the NCLT, Go First sought a declaration of bankruptcy under the Insolvency and Bankruptcy Code and create corporate insolvency resolution proceedings against itself. The advocate also argued that the move to seize aircraft would affect around 7,000 employees working with the company.

Nclt  hearing  bankruptcy  proceedings  tribunal  aircraft  nclt  order  interim  sought  plea  firsts  company  insolvency  reserves  moratorium

History of this topic

NCLT New Delhi Orders Liquidation Of Go Airlines (India) Limited
2 months ago

NCLT New Delhi Orders Liquidation Of Go Airlines (India) Limited

Live Law  

The National Company Law Tribunal, New Delhi bench of Justice Mahendra Khandelwal and Dr. Sanjeev Ranjan has ordered the liquidation of Go First Airlines, marking the conclusion of a 20-month-long insolvency process after no viable resolution plan emerged. The Tribunal stated the CoC in the legislative scheme is empowered to make the decision to liquidate the corporate debtor, at any …

Go First case: Former bidder Busy Bee Airways withdraws plea against liquidation
2 months, 1 week ago

Go First case: Former bidder Busy Bee Airways withdraws plea against liquidation

Live Mint  

New Delhi: Busy Bee Airways Pvt. Ltd, former bidder for bankrupt airline Go First, on Tuesday withdrew its plea challenging the 18 December decision of the National Company Law Tribunal reserving the liquidation order. In its plea, Busy Bee Airways also sought updated and comprehensive details about Go First, as requested in emails dated 6 May 2024, 27 May 2024, …

NCLT orders liquidation of Go First airline amid ongoing financial crisis
2 months, 1 week ago

NCLT orders liquidation of Go First airline amid ongoing financial crisis

India TV News  

The National Company Law Tribunal on Monday ordered the liquidation of Go First, marking a dramatic end to the airline's 17-year legacy in the Indian aviation industry. In May 2023, Go First filed for insolvency, citing severe financial distress, and subsequently entered into an insolvency resolution process that ultimately failed to find a sustainable solution. The Liquidation decision The NCLT's …

NCLT orders Go First liquidation
2 months, 1 week ago

NCLT orders Go First liquidation

The Hindu  

The National Company Law Tribunal on Monday ordered the liquidation of budget air carrier Go First Airways two years after it shut flight operations and approached the court seeking voluntary insolvency. A bench of NCLT comprising Judicial Member Mahendra Khandelwal and Technical Member Dr. Sanjeev Ranjan allowed an application for liquidation filed by the Committee of Creditors of Go First. …

NCLT orders liquidation of Go First, ending 20-month insolvency saga
2 months, 1 week ago

NCLT orders liquidation of Go First, ending 20-month insolvency saga

Live Mint  

The National Company Law Tribunal has ordered the liquidation of Go First, marking the end of 20 months of insolvency proceedings for the struggling budget airline. Go First, which filed for bankruptcy in May 2023, had a 6.9% market share in India’s aviation sector at the time. Financial woes and consumer protection concerns Go First’s financial troubles had begun when …

NCLT orders liquidation of Go First airline
2 months, 1 week ago

NCLT orders liquidation of Go First airline

The Hindu  

The National Company Law Tribunal has ordered the liquidation of Go First Airways after a request from the cash-strapped airline's lenders. In August, Go First's lenders had decided to liquidate the company's assets after rejecting bids by interested suitors to revive the bankrupt airline, Reuters had reported, citing sources. Go First had filed for bankruptcy in May last year and …

Bankrupt airline Go First's liquidation plea approved by law tribunal
Trending News
2 months, 1 week ago

Bankrupt airline Go First's liquidation plea approved by law tribunal

India Today  

The National Company Law Tribunal has ordered the liquidation of Go First airline, according to multiple media reports. A NCLT bench, led by Judicial Member Mahendra Khandelwal and Technical Member Dr Sanjeev Ranjan, granted the liquidation petition filed by the airline’s Committee of Creditors, reported Bar and Bench. Go First’s lenders decided to liquidate the bankrupt budget carrier’s assets in …

NCLT Hyderabad Holds Port Authority Officers Guilty Of Contempt Of Court, Imposes Month Imprisonment And Fine
10 months ago

NCLT Hyderabad Holds Port Authority Officers Guilty Of Contempt Of Court, Imposes Month Imprisonment And Fine

Live Law  

The National Company Law Tribunal Hyderabad, comprising Justice Rajeev Bhardwaj and Mr. Sanjay Puri held Mr. Ravi Kiran Saladi Konda, Deputy Traffic Manager, New Mangalore Port Authority and Mr. Sriman Nayan Mishra, Senior Assistant Traffic Manager, Paradip Port Authority guilty of contempt for disobeying the directions of the Adjudicating Authority and sentenced them to simple imprisonment of 1 month each …

Court ruling takes the wind off GoFirst insolvency resolution
11 months ago

Court ruling takes the wind off GoFirst insolvency resolution

New Indian Express  

The Delhi High Court’s recent order allowing the Directorate General of Civil Aviation to process the applications filed by several lessors for deregistration of 54 planes is a body blow to the resolution process of Go First. Go First has been going through the insolvency resolution process since May 10 last year. The airline’s process is being overseen by resolution …

NCLT extends Go First’s resolution timeline by 90 days
1 year, 4 months ago

NCLT extends Go First’s resolution timeline by 90 days

Live Mint  

New Delhi: The National Company Law Tribunal on Thursday granted Go First airline a 90-day extension for its Corporate Insolvency Resolution Process, now effective from 6 November to 4 February, as the bankrupt carrier seeks to revive its operations. The tribunal has asked the resolution professional overseeing Go First's insolvency to submit a 90-day action plan. The move offers temporary …

SC advises NCLT against routine asset revaluation orders
1 year, 4 months ago

SC advises NCLT against routine asset revaluation orders

Live Mint  

New Delhi: The Supreme Court has advised the National Company Law Tribunal against routinely issuing directions for a revaluation of a corporate debtor’s assets A bench comprising Justices Vikram Nath and Ahsanuddin Amanullah emphasized that the tribunal has limited powers for such directions and should exercise them only in exceptional circumstances. Citing relevant provisions of Insolvency and Bankruptcy Code, the …

NCLT Kochi: Moratorium U/S 96 And 101 Of IBC Cannot Be Meant To Prohibit The Right To Action U/S 7, 9 Or 10 Of IBC
1 year, 4 months ago

NCLT Kochi: Moratorium U/S 96 And 101 Of IBC Cannot Be Meant To Prohibit The Right To Action U/S 7, 9 Or 10 Of IBC

Live Law  

The National Company Law Tribunal, Kochi Bench, comprising of Justice T Krishna Valli and Shri. Shyam Babu Gautam dismissed a stay application and has held that the moratorium under sections 96 and 101 of the Insolvency and Bankruptcy Code “ cannot be meant to prohibit the right to action under sections 7, 9 or 10 of IBC as it lies …

Go First cancels flights till August 18 due to operational reasons | DETAILS
1 year, 7 months ago

Go First cancels flights till August 18 due to operational reasons | DETAILS

India TV News  

Go First cancels flights till August 18 due to operational reasons | DETAILS Go First update: On May 2, Go First cancelled its flights and filed for voluntary bankruptcy before the National Company Law Tribunal, alleging delays on the part of a US-based engine maker, Pratt & Whitney. On May 2, 2023, Go First cancelled its flights and filed for …

Go First bankruptcy row: Cancellation sprees continues | Here is latest announcement
1 year, 8 months ago

Go First bankruptcy row: Cancellation sprees continues | Here is latest announcement

India TV News  

Go First bankruptcy row: Cancellation sprees continues | Here is latest announcement Go First news updates: On May 2, Go First cancelled its flights and filed for voluntary bankruptcy before the National Company Law Tribunal, alleging delays on the part of a US-based engine maker, Pratt & Whitney, for its inability to promptly meet obligations. On May 2, Go First …

Go Airlines can now admit one of its vendors under CIRP: Report
1 year, 8 months ago

Go Airlines can now admit one of its vendors under CIRP: Report

Live Mint  

The National Company Law Tribunal has allowed Go Airlines India's application to admit one of its vendors Blue Mushroom Infozone under the Corporate Insolvency Resolution Process. A division bench headed by Chief Justice Satish Chandra Sharma, while dealing with appeals by the resolution professional appointed under the insolvency law to manage the airline against an order by a single judge, …

Delhi HC refuses stay on lessors inspecting Go First aircraft
1 year, 8 months ago

Delhi HC refuses stay on lessors inspecting Go First aircraft

Live Mint  

New Delhi: A division bench of the Delhi High Court has dismissed an appeal filed by Go First's resolution professional challenging an earlier order that allowed lessors to inspect the airline's aircraft and their parts at regular intervals. On 5 July, a single-judge bench of the Delhi High Court permitted the lessors of the airline to inspect and carry out …

Go Airlines | NCLT Directs RP To Protect Assets Under Control Of Corporate Debtor
1 year, 9 months ago

Go Airlines | NCLT Directs RP To Protect Assets Under Control Of Corporate Debtor

Live Law  

The National Company Law Tribunal, Special Bench, comprising of Shri Mahendra Khandelwal and Shri Rahul Bhatnagar, while adjudicating a petition filed by Go Airlines Limited, has directed the Resolution Professional to protect the assets in possession and control of Go Airlines Ltd. in terms of Section 25 of IBC. Further the Interim Resolution Professional has been replaced by Mr. Shailendra …

Go First’s Committee of Creditors replaces bankruptcy officials: Report
1 year, 9 months ago

Go First’s Committee of Creditors replaces bankruptcy officials: Report

Live Mint  

The creditors of Go First Airlines have replaced the bankruptcy-related officials appointed by the company, in a move to take full control of the carrier’s resolution process at the National Company Law Tribunal, a report said. The committee of creditors of Go First has replaced the previously appointed interim resolution professional, process advisor and legal agency during its first meeting …

NCLT accepts Delhivery notice to declare Go First’s insolvency fraudulent
1 year, 9 months ago

NCLT accepts Delhivery notice to declare Go First’s insolvency fraudulent

Live Mint  

The National Company Law Tribunal on Thursday accepted logistic courier service provider Delhivery's notice to declare Go First's voluntary insolvency resolution as fraudulent and malicious, media reports suggested. As per an Economic Times report, NCLT accepted Delhivery's notice seeking Go First's voluntary insolvency resolution as fraudulent and malicious. Earlier Mint reported that the cash-strapped budget airline Go First had sought …

Improving The Functioning Of The National Company Law Tribunal – A Perspective
1 year, 9 months ago

Improving The Functioning Of The National Company Law Tribunal – A Perspective

Live Law  

The National Company Law Tribunal, established on 01 June 2016 under the Companies Act, 2013, is a premier tribunal in the commercial and economic field. Having said that, there is still a general feeling of unease with reference to two issues – the delay factor in disposal of applications by the NCLT, especially applications pertaining to admission of corporate debtors …

Go First crisis: Airline extends flight cancellations till May 30
1 year, 10 months ago

Go First crisis: Airline extends flight cancellations till May 30

India TV News  

Go First crisis: Airline extends flight cancellations till May 30 Go First airlines cited operational reasons as it extended the suspension of its flight operations till May 30. New Delhi: Cash-strapped Go First airline, which is undergoing insolvency resolution proceedings, extended its flight cancellations till May 30 due to operational reasons. Go First flights cancelled till May 28 "We regret …

DGCA to conduct audit of Go First's preparedness before allowing flight resumption
1 year, 10 months ago

DGCA to conduct audit of Go First's preparedness before allowing flight resumption

The Hindu  

Aviation regulator DGCA will conduct an audit of Go First's preparedness before approving resumption of flights by the crisis-hit carrier, according to a communication. Go First, on May 2, announced filing the plea for voluntary insolvency resolution proceedings as well as suspension of flights, initially for two days — May 3 and 4. At that time also, DGCA had issued …

Go First suspended board files caveats before Supreme Court against aircraft lessors
1 year, 10 months ago

Go First suspended board files caveats before Supreme Court against aircraft lessors

Deccan Chronicle  

NEW DELHI: The suspended board of Go First on Tuesday filed caveats before the Supreme Court against four aircraft lessors of the crisis-hit airline. Four caveats have been filed by Varun Berry, the Chairman of the suspended board of Go First through his counsel advocate Pranjal Kishore, as per the information available on the website of the Supreme Court of …

NCLAT upholds NCLT order allowing Go First's voluntary insolvency proceedings
1 year, 10 months ago

NCLAT upholds NCLT order allowing Go First's voluntary insolvency proceedings

Firstpost  

The National Company Law Appellate Tribunal on Monday upheld an NCLT order allowing crisis-hit Go First’s voluntary insolvency resolution proceedings. A two-member NCLAT bench asked several aircraft lessors of Go First opposing insolvency,to approach National Company Law Tribunal for any remedy. The lessors had opposed the decision of Delhi-based principal bench of NCLT, which had earlier this month allowed a …

Go First crisis: Big blow to aircraft lessors as NCLAT upholds bankruptcy ruling
1 year, 10 months ago

Go First crisis: Big blow to aircraft lessors as NCLAT upholds bankruptcy ruling

India Today  

The National Company Law Appellate Tribunal on Monday upheld insolvency proceedings against cash-strapped airline Go First, in what seems to be a big blow for aircraft lessors who had challenged the decision. Aircraft lessors had approached the NCLAT and challenged the National Company Law Tribunal’s ruling that granted bankruptcy protection to Go First. This means Go First’s aircraft lessors, which …

Go First bankruptcy | Crisis in the skies
1 year, 10 months ago

Go First bankruptcy | Crisis in the skies

India Today  

The May 2 decision of Go First, India’s third-largest carrier, to suspend flights for two days—later extended till May 19—caught fliers, the aviation regulator and the Centre totally off guard. The company has cited the long delays in sourcing airworthy engines from the US aerospace major Pratt & Whitney as the reason behind the decision to go for insolvency, but …

Cash-strapped Go First extends suspension of flight operations till May 26
1 year, 10 months ago

Cash-strapped Go First extends suspension of flight operations till May 26

Hindustan Times  

Crisis-hit Go First on Wednesday extended the suspension of flight operations till May 26, citing operational reasons and expressed hope that it will be able to resume bookings shortly. The National Company Law Tribunal admitted the airline's voluntary plea insolvency resolution proceedings on May 10 Go First, which is undergoing insolvency resolution proceedings, stopped flying from May 3. The National …

Go First: Aircraft lessor moves Delhi High Court seeking directions to take back its leased plane
1 year, 10 months ago

Go First: Aircraft lessor moves Delhi High Court seeking directions to take back its leased plane

The Hindu  

As Go First undergoes insolvency resolution proceedings, an aircraft lessor moved the Delhi High Court seeking directions to the authorities to release the plane leased to the crisis-hit airline. Besides, two more aircraft lessors have moved the National Company Law Appellate Tribunal opposing the airline's insolvency proceedings. With moratorium on financial obligations and transfer of assets of Go First in …

Go First insolvency: NCLAT to hear lessors’ plea on May 22
1 year, 10 months ago

Go First insolvency: NCLAT to hear lessors’ plea on May 22

Live Mint  

The National Company Law Appellate Tribunal has deferred the matter pertaining to Go First lessors’ petition seeking a stay on a bankruptcy court order allowing voluntary insolvency of the low-cost airline to May 22, according to reports. A bench led by Justices Ashok Bhushan and Barun Mitra will take up the petition filed by SMBC Aviation Capital, one of the …

Go First's insolvency flight leaves trail of concerns for aircraft lessors
1 year, 10 months ago

Go First's insolvency flight leaves trail of concerns for aircraft lessors

Firstpost  

At least 50 requests to take back as many leased planes from two Indian airlines in less than two weeks. Cash-strapped Go First being admitted for insolvency resolution proceedings on a voluntary plea and subsequent moratorium has left a trail of concerns and uncertainties for aircraft lessors with respect to India, the world’s third-largest aviation market. Regional airline Star Air’s …

Go First lessors’ plea to be heard Monday
1 year, 10 months ago

Go First lessors’ plea to be heard Monday

Live Mint  

The National Company Law Appellate Tribunal on Friday deferred the matter pertaining to Go First lessors’ petition seeking a stay on a bankruptcy court order allowing voluntary insolvency of the low-cost airline to Monday. A bench led by Justices Ashok Bhushan and Barun Mitra will take up the petition filed by SMBC Aviation Capital, one of the lessors of Go …

Go First: NCLAT to hear SMBC Aviation Capital’s plea challenging insolvency
1 year, 10 months ago

Go First: NCLAT to hear SMBC Aviation Capital’s plea challenging insolvency

Live Mint  

National Company Law Tribunal on Friday will hear a plea filed by Go First's lessor SMBC Aviation Capital Ltd challenging the tribunal's order allowing insolvency. SMBC Aviation Capital Ltd told NCLAT that the initiation of insolvency by Go First was a “fraudulent exercise”. He also questioned the proceedings at the NCLT as the tribunal completed Go First's hearing of the …

Go First insolvency case: Resolution profession flags need to raise funds
1 year, 10 months ago

Go First insolvency case: Resolution profession flags need to raise funds

Live Mint  

Weeks after it filed for insolvency and sought the appointment of a resolution professional, officials have underlined the need for the carrier to raise funds. Meanwhile lenders are reportedly classifying their loans to the company as "non performing" in the current quarter, and one of its aircraft lessors has challenged NCLT order protecting Go First. Two banking sources also told …

GoFirst Insolvency: NCLAT to hear SMBC Aviation Capital’s plea tomorrow
1 year, 10 months ago

GoFirst Insolvency: NCLAT to hear SMBC Aviation Capital’s plea tomorrow

Live Mint  

The National Company Law Appellate Tribunal hear the plea filed by Go First aircraft lessor, SMBC tomorrow, May 12, Friday. SMBC Aviation Capital moved the National Company Law Appellate Tribunal on Thursday challenging the National Company Law Tribunal 's order which admitted the GoFirst airlines' insolvency process. The NCLT on Wednesday admitted Go First's plea for voluntary insolvency and admitted …

Go First: NCLAT to hear plea by airline’s lessor SMBC Aviation Capital
1 year, 10 months ago

Go First: NCLAT to hear plea by airline’s lessor SMBC Aviation Capital

Live Mint  

National Company Law Tribunal on Thursday will hear a plea filed by Go First's lessor SMBC Aviation Capital Ltd challenging yesterday's order allowing insolvency. The Wadia-group-owned airline was granted bankruptcy protection by NCLT on Wednesday, bolstering the country's fourth largest carrier's chances of getting back on its feet, but lessors have started mounting legal challenges to repossess planes. The bankruptcy …

Go First crisis: Why top aircraft lessors are not happy with NCLT's decision
1 year, 10 months ago

Go First crisis: Why top aircraft lessors are not happy with NCLT's decision

India Today  

Go First’s lessors are unhappy with the National Company Law Tribunal’s decision to admit the airline’s voluntary insolvency plea, which granted protection to its assets under a moratorium. Following the decision, the world’s second-largest aircraft lessor, SMBC Aviation Capital, warned that India’s decision to block leasing firms from reclaiming Go First planes will “jolt” the market and spark a confidence …

Go First may start flying soon as airline plans to resume operations: Report
1 year, 10 months ago

Go First may start flying soon as airline plans to resume operations: Report

India Today  

Low-cost carrier Go First may start flying soon as it plans to resume operations after the National Company Law Tribunal accepted its insolvency plea, giving the airline a shot at revival. The Wadia group-owned airline plans to restart operations by May 24, reported The Economic Times quoting people aware of the development. Go First’s plan to resume operations has surfaced …

NCLT admits Go First bankruptcy petition
1 year, 10 months ago

NCLT admits Go First bankruptcy petition

Live Mint  

A Delhi bankruptcy court admitted Go First’s request for insolvency on Wednesday, marking the beginning of a search for a buyer for the budget airline. Go First may resume some flights from 24 May as the airline plans to keep its air operator certificate active, two people aware of the development said. Aircraft lessors approached the DGCA, to deregister over …

Go First insolvency: What happened so far with the domestic carrier?
1 year, 10 months ago

Go First insolvency: What happened so far with the domestic carrier?

Hindustan Times  

After more than a week of uncertainties, the skies seem to be more clear for the cash-starved airline Go First. Following is the brief chronology of developments in the last nine days. Go First filed for insolvency resolution proceedings in the National Company Law Tribunal. Read here: NCLT initiates Go First airline’s plea to initiate insolvency resolution May 2 - …

NCLT initiates insolvency proceedings for Go First
1 year, 10 months ago

NCLT initiates insolvency proceedings for Go First

Hindustan Times  

The National Company Law Tribunal on Wednesday admitted Go First’s voluntary plea under the Insolvency and Bankruptcy Code and awarded the airline bankruptcy protection. Go First has suspended sale of tickets till May 15 The airline had last week filed for insolvency resolution proceedings in the NCLT while also announcing the suspension of the sale of tickets till May 15. …

NCLT admits Go First insolvency plea, puts it under moratorium
1 year, 10 months ago

NCLT admits Go First insolvency plea, puts it under moratorium

Business Standard  

The NCLT has appointed Abhilash Lal of Alvarez and Marsal interim resolution professional to take charge of the airline. The tribunal said the professional should ensure that employees of the airline were not laid off The Delhi Bench of the National Company Law Tribunal on Wednesday accepted Go First’s insolvency plea, resulting in the airline being put under a moratorium …

Go First bankruptcy: What does bankruptcy protection mean for airline?
1 year, 10 months ago

Go First bankruptcy: What does bankruptcy protection mean for airline?

Live Mint  

One of India's largest airlines, Go Airlines, now rebranded as Go First, has been granted bankruptcy protection by the National Company Law Tribunal on Wednesday. Bankruptcy proceedings against Go First airline will take place as per the process stated under the Insolvency and Bankruptcy code of India, 2016. NCLT announced its order accepting the bankruptcy petition of Go First airline, …

NCLT grants GoFirst’s insolvency plea
1 year, 10 months ago

NCLT grants GoFirst’s insolvency plea

The Hindu  

The National Company Law Tribunal on Wednesday admitted Go First’s plea for voluntary insolvency and granted protection under moratorium from adverse actions by lessors, lenders, regulator, airports and oil companies. SMBC Aviation Capital which has leased at least seven aircraft to Go First moved National Company Appellate Law Tribunal to challenge the order. Lessors have already terminated lease agreements for …

NCLT grants Go First bankruptcy protection
1 year, 10 months ago

NCLT grants Go First bankruptcy protection

Live Mint  

The National Company Law Tribunal on 10 May agreed to grant Go First protection under moratorium from recovery by lessors, lenders. NCLT, in its judgement, said that “we admit the plea of Go Airlines for insolvency proceedings.” A two-member bench comprising President Justice Ramalingam Sudhakar and L N Gupta also appointed Abhliash Lal as interim resolution professional to run the …

Go First extends flight cancellations till May 19
1 year, 10 months ago

Go First extends flight cancellations till May 19

India Today  

Cash-strapped airline Go First, which was granted relief by the National Company Law Tribunal on Wednesday, has extended flight cancellations till May 19. Go First gets fresh lifeline In another major development, the NCLT approved Go First’s voluntary insolvency plea, fuelling fresh hopes of revival for the Wadia group-owned airline. The NCLT bench directed the initiation of the Corporate Insolvency …

Go First crisis: Crucial NCLT hearing to decide airline's fate as lessors move to delist planes
1 year, 10 months ago

Go First crisis: Crucial NCLT hearing to decide airline's fate as lessors move to delist planes

India Today  

It is a crucial day for cash-strapped airline Go First and its 7,000 employees as the National Company Law Tribunal will finally take a decision on its insolvency plea. Lessors have already approached the Directorate General of Civil Aviation to delist 45 out of Go First’s 54 aircraft fleet. NCLT to decide Go First’s fate If Go First’s plea is …

Go First gets insolvency cover, tribunal orders suspended directors to deposit funds
1 year, 10 months ago

Go First gets insolvency cover, tribunal orders suspended directors to deposit funds

India TV News  

Go First gets insolvency cover, tribunal orders suspended directors to deposit funds “This is a historic ruling as an application of insolvency has been admitted so fast. The purpose of IBC has always been a revival," said Go First CEO Kaushik Khona. The NCLT on Wednesday admitted Go First's plea for voluntary insolvency and allowed for the initiation of CIRP …

Big relief for Go First as NCLT admits voluntary insolvency plea
1 year, 10 months ago

Big relief for Go First as NCLT admits voluntary insolvency plea

India Today  

Cash-strapped airline Go First’s voluntary insolvency plea was accepted by the National Company Law Tribunal on Wednesday. A two-member NCLT bench comprising President Justice Ramalingam Sudhakar and L N Gupta directed the initiation of the Corporate Insolvency Resolution Process and added that an interim resolution professional will take over the management of the airline with immediate effect. The order also …

Go First crisis: Lessors approach DGCA to deregister 45 of 55 planes
1 year, 10 months ago

Go First crisis: Lessors approach DGCA to deregister 45 of 55 planes

Live Mint  

Aircraft lessors on Tuesday approched the DGCA for deregistration of 45 planes of the cash-strapped Go First Airways. On Monday, Go First requested the National Company Law Tribunal for an early decision on its plea for voluntary insolvency resolution proceedings before the two-member bench headed by tribunal President Ramalingam Sudhakar. As many as 28 planes or more than half of …

Go First’s insolvency case: NCLT to pass its verdict on Wednesday
1 year, 10 months ago

Go First’s insolvency case: NCLT to pass its verdict on Wednesday

Live Mint  

India's National Company Law Tribunal will give an order on Go Airlines Ltd's insolvency case on Wednesday, according to a notice on the tribunal's website on Tuesday. The airline, widely known as Go First, filed for bankruptcy protection last week, blaming "faulty" Pratt & Whitney engines for the grounding of about half its 54 Airbus A320neo planes. The two-member bench …

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