Go First: Aircraft lessor moves Delhi High Court seeking directions to take back its leased plane
1 year, 7 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 the wake of the insolvency resolution proceedings, lessors are unable to deregister and take back the aircraft leased to the carrier. Three aircraft lessors -- SMBC Aviation Capital Ltd, GY Aviation and SFV Aircraft Holdings -- have moved the NCLAT against Go First's insolvency resolution proceedings.

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History of this topic

Court ruling takes the wind off GoFirst insolvency resolution
7 months, 3 weeks 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 …

Go First Case: Delhi High Court Directs DGCA To Process De-Registration Of Leased Aircrafts
7 months, 4 weeks ago

Go First Case: Delhi High Court Directs DGCA To Process De-Registration Of Leased Aircrafts

Live Law  

The Delhi High Court on Friday passed a slew of directions to de-register 54 aircrafts of various lessors on lease with the crisis-hit airline Go First.While disposing of a batch of pleas moved by the lessors, Justice Tara Vitasta Ganju set aside the communication letters issued by the Director General of Civil Aviation declining to process new registration applications of …

Delhi HC issues Contempt of Court notice to Go First airlines’ resolution profes
9 months, 2 weeks ago

Delhi HC issues Contempt of Court notice to Go First airlines’ resolution profes

Live Mint  

The Delhi High Court on Monday issued a a show-cause notice to the resolution professional of Go First airline, asking why contempt proceedings should not be initiated against him for prima facie willfully disobeying judicial orders on allowing inspection and maintenance of lessors' aircraft. Earlier, the NCLT-appointed RP, tasked with managing Go First, had told the high court that returning …

Go Air RP Unable To Undertake Regular Maintenance Of Lessors' Aircrafts: Delhi High Court Issues Show Cause Notice For Contempt
9 months, 2 weeks ago

Go Air RP Unable To Undertake Regular Maintenance Of Lessors' Aircrafts: Delhi High Court Issues Show Cause Notice For Contempt

Live Law  

The Delhi High Court has issued a show cause notice to the Resolution Professional of crisis-hit Go Air as to why contempt proceedings be not initiated against him, observing that he was unable to undertake regular maintenance of the aircrafts of various lessors in terms of last year's judicial orders.Justice Tara Vitasta Ganju observed that the directions to provide access …

Go First’s resolution professional issued contempt notice by Delhi HC
9 months, 2 weeks ago

Go First’s resolution professional issued contempt notice by Delhi HC

Live Mint  

The Delhi High Court on Thursday issued a contempt notice against Go First’s resolution professional after the bankrupt airline’s lessors filed a case claiming he had defied the court orders regarding maintenance of their aircraft. The court had on 1 March ordered Go First’s RP to respond whether he was ready to transfer the responsibility of maintaining the aircraft back …

Seven lessors agree to carry maintenance of Go First aircraft: RP to court
11 months, 2 weeks ago

Seven lessors agree to carry maintenance of Go First aircraft: RP to court

Live Mint  

Go First's resolution professional informed the Delhi High Court on Friday that seven out of 14 lessors to the bankrupt airline had agreed to carry out maintenance of parked aircraft through a third party agency. The RP in its letter suggested that Go First, via Naik, could facilitate engagements with maintenance, repair, and overhaul firms for aircraft maintenance, based on …

NCLAT allows Go First lessor to inspect aircraft
1 year, 4 months ago

NCLAT allows Go First lessor to inspect aircraft

Live Mint  

New Delhi: The National Company Law Appellate Tribunal on Friday allowed Go First Airline's engine lessor, Engine Lease Finance BV, to inspect its four parked engines leased to the grounded airline. The engine lessor argued that it should be treated on par with aircraft lessors, who were allowed to inspect their parked aircraft by the Delhi High Court's single bench. …

Go Airlines| NCLT Delhi Permits Go Airlines To Resume Operations
1 year, 4 months ago

Go Airlines| NCLT Delhi Permits Go Airlines To Resume Operations

Live Law  

The National Company Law Tribunal, New Delhi Bench, comprising of Shri Mahendra Khandelwal and Shri Rahul Bhatnagar, while adjudicating a petition filed by Go Airlines Limited, has permitted Go Airlines to operate the leased aircrafts in order to maintain the company’s status as a going concern. Accordingly, the Lessors filed an application under Section 60 of IBC before the NCLT …

Go Airlines can now admit one of its vendors under CIRP: Report
1 year, 5 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, 5 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 …

Delhi High Court To Hear On Monday Appeal Against Order Permitting Lessors To Carry Out Maintenance Of Aircrafts On Lease With Go First
1 year, 5 months ago

Delhi High Court To Hear On Monday Appeal Against Order Permitting Lessors To Carry Out Maintenance Of Aircrafts On Lease With Go First

Live Law  

The Delhi High Court will hear on Monday the challenge against a single judge order permitting various lessors to carry out inspection and interim maintenance tasks of their aircrafts, which are currently on lease with crisis-hit Go First airline, twice a month until final disposal of their pleas to de-register their planes from the airline.Senior Advocate Sandeep Sethi mentioned the. …

Delhi HC permits Go First lessors to inspect, carry out maintenance work
1 year, 5 months ago

Delhi HC permits Go First lessors to inspect, carry out maintenance work

Hindustan Times  

The Delhi high court on Wednesday allowed leasing companies to access aircraft leased to Go First for “inspections of their fleet and carry out engine and other maintenance work as required”. Go first airlines In an interim order passed by justice Tara Vista Ganju, the court directed aviation regulator Directorate General of Civil Aviation and relevant airport authorities to allow …

Go Airlines | NCLT Directs RP To Protect Assets Under Control Of Corporate Debtor
1 year, 6 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: Lessors' applications shown 'rejected' due to technical glitch, DGCA to Delhi High Court
1 year, 6 months ago

Go First: Lessors' applications shown 'rejected' due to technical glitch, DGCA to Delhi High Court

India TV News  

Go First update: The Directorate General of Civil Aviation has told the Delhi High Court that it was due to a technical glitch on its portal that the applications of several aircraft lessors of cash-strapped Go First airline for de-registration of their aircraft were shown as rejected. On May 26, aircraft lessors- Pembroke Aircraft Leasing 11 Ltd, SMBC Aviation Capital …

DGCA to conduct audit of Go First's preparedness before allowing flight resumption
1 year, 7 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, 7 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, 7 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, 7 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 …

Cash-strapped Go First extends suspension of flight operations till May 26
1 year, 7 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 …

Morning Digest: May 17, 2023
1 year, 7 months ago

Morning Digest: May 17, 2023

The Hindu  

Congress leadership’s deliberations to decide on next Karnataka CM remain inconclusive The Congress leadership’s deliberations to select a new Chief Minister for Karnataka remained inconclusive as rival claimants, Karnataka Pradesh Congress Committee chief D K Shivakumar and former Chief Minister Siddaramaiah refused to back down from their respective positions on May 16. Chhattisgarh liquor scam | Do not create an …

Explained: Why Go First crisis could increase cost of air travel in India
1 year, 7 months ago

Explained: Why Go First crisis could increase cost of air travel in India

India Today  

The admission of beleaguered low-cost airline Go First’s voluntary insolvency plea by the National Company Law Tribunal has upset global aircraft lessors – a development that could significantly increase the cost of operations for airlines, and subsequently increase the cost of flying. Following the NCLT’s decision to accept Go First’s voluntary insolvency plea, the world’s second-largest aircraft lessor, SMBC Aviation …

Go First's insolvency flight leaves trail of concerns for aircraft lessors
1 year, 7 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 …

‘India is a risky jurisdiction…,’ SMBC Aviation warns amid Go First crisis
1 year, 7 months ago

‘India is a risky jurisdiction…,’ SMBC Aviation warns amid Go First crisis

Live Mint  

SMBC Aviation Capital, the world's second-largest aircraft lessor, pointed out that National Company Law Tribunal's decision to block leasing firms from reclaiming Go First planes will create ripples in the markets and will also create a confidence crisis. Apart from SMBC, other aircraft leasing firms, such as Jackson Square Aviation and Bank of China Aviation, have also raised the alarm …

Go First insolvency: What happened so far with the domestic carrier?
1 year, 7 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, 7 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, 7 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 …

NCLT grants GoFirst’s insolvency plea
1 year, 7 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, 7 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 crisis: Lessors approach DGCA to deregister 45 of 55 planes
1 year, 7 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 crisis: Lessors seek deregistration of 36 planes
1 year, 7 months ago

Go First crisis: Lessors seek deregistration of 36 planes

Live Mint  

Lessors Monday urged the Directorate General of Civil Aviation to deregister 13 more Go First aircraft to secure their assets. Earlier, on Thursday they has applied for deregistration of 23 planes of the cash-strapped Indian airline before the insolvency process begins.The lessors have so far sought the deregistration of 36 planes of Go First. The Go First today requested the …

Go Airlines asks tribunal to urgently pass order on insolvency plea
1 year, 7 months ago

Go Airlines asks tribunal to urgently pass order on insolvency plea

The Hindu  

Go Airlines on Monday asked the National Company Law Tribunal to urgently pass an order on its insolvency plea, citing lessors' efforts to take back planes, per the court hearing. On Monday, Go First lawyers told the tribunal to urgently pass an order on the airline's insolvency plea, saying its lessors had moved to repossess the planes even as bankruptcy …

Cash-strapped Go First cancels all flights till May 12, promises refunds
1 year, 7 months ago

Cash-strapped Go First cancels all flights till May 12, promises refunds

Hindustan Times  

Cash-strapped airline Go First on Friday announced the suspension of flights till May 12. On Thursday, Go First had announced that it had suspended flights till May 9. On Tuesday, Go First filed for insolvency resolution proceedings in the National Company Law Tribunal. "Go First has intimated that they have suspended sale of their flights till 15 May 2023 and …

Insolvency petitions against Go First to be heard on May 8
1 year, 7 months ago

Insolvency petitions against Go First to be heard on May 8

Hindustan Times  

As Go First awaits the NCLT ruling on its voluntary insolvency resolution plea, the tribunal is set to hear on Monday two petitions seeking insolvency proceedings against the crisis-hit airline. Go First airline With liabilities of ₹11,463 crore and a financial crunch, the Wadia group-owned airline has sought voluntary insolvency resolution proceedings as well as an interim moratorium on financial …

NCLT reserves order on Go First’s plea for interim moratorium, bankruptcy
1 year, 7 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 …

NCLT reserves order on Go First's plea for insolvency resolution proceedings
1 year, 7 months ago

NCLT reserves order on Go First's plea for insolvency resolution proceedings

The Hindu  

The National Company Law Tribunal on May 4 reserved its order on crisis-hit airline Go First's plea seeking voluntary insolvency resolution proceedings. A two-member bench headed by President Justice Ramalingam Sudhakar concluded the day-long hearing during which the Wadia group-controlled airline sought initiation of insolvency resolution proceedings and an interim moratorium on its financial obligations. The Directorate General of Civil …

Go First’s NCLT hearing: Cash-strapped Airline seeks interim moratorium
1 year, 7 months ago

Go First’s NCLT hearing: Cash-strapped Airline seeks interim moratorium

Live Mint  

Cash-strapped budget airline Go First has sought an interim moratorium as the Delhi chapter of the National Company Law Tribunal began hearing its voluntary insolvency plea on Thursday. The budget carrier, on Tuesday, cited the grounding of more than half of the fleet due to non-supply of engines by Pratt & Whitney as the reason for its financial crunch The …

Go First moves NCLT, says total dues to creditors at over ₹11k crore
1 year, 7 months ago

Go First moves NCLT, says total dues to creditors at over ₹11k crore

The Hindu  

Go First approached the National Company Law Tribunal on Wednesday and sought the admission of its insolvency plea. According to Reuters, the airline in its petition before the court said that its total liabilities to all creditors stood at ₹11,463 crore, which includes dues to banks, financial institutions, vendors and aircraft lessors. The petition lists Central Bank of India Ltd., …

Go First announces cancellations, furious flyers vent out anger
1 year, 7 months ago

Go First announces cancellations, furious flyers vent out anger

Live Mint  

The sudden decision by bankrupt Go First to cancel its flights for May 3 and 4 on Tuesday left several flyers, who had booked their flights with the budget airline, confused and enraged. The Mumbai basedairline Tuesday filed for voluntary insolvency resolution proceedings before the National Company Law Tribunal, Delhi due to serious cash shortage. Flyers who had booked their …

Go First files for voluntary insolvency. What happened to the airline?
1 year, 7 months ago

Go First files for voluntary insolvency. What happened to the airline?

Hindustan Times  

Air Carrier Go First Airways on Tuesday filed for insolvency resolution proceedings in the National Company Law Tribunal. Go First said it has paid ₹ 5,657 crores to lessors in the last two years of which approximately ₹ 1600 crore was paid towards lease rent for non-operational grounded aircraft The Wadia Group-owned air carrier with more than 5,000 employees has …

NCLAT Delhi Stays Insolvency Proceedings Against Zee Entertainment Enterprises Ltd.
1 year, 10 months ago

NCLAT Delhi Stays Insolvency Proceedings Against Zee Entertainment Enterprises Ltd.

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Shri Barun Mitra, while adjudicating an appeal filed in Punit Goenka v Indusind Bank Ltd. & Anr., has stayed the NCLT order dated 22.02.2023, whereby Corporate Insolvency Resolution Process was initiated against Zee Entertainment Enterprises Ltd. Background Facts Zee Entertainment Enterprises Ltd. is an Indian media …

NCLAT To Hear Appeals On Resolution Plan Of Jet Airways On 5th July, 2022
2 years, 6 months ago

NCLAT To Hear Appeals On Resolution Plan Of Jet Airways On 5th July, 2022

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Ms. Shreesha Merla, while hearing a batch of appeals filed against the resolution plan of Jet Airways Ltd. by aggrieved employees and workmen of Jet Airways; Punjab National Bank; TLD MEAI FZE; Jet Aircraft Maintenance Engineers Welfare Association; Bhartiya Kamgar Sena; and Concor Air, has fixed …

No Bar On Operational Creditor To Recover Claims If Claims Were Not Entertained In The Resolution Process: NCLAT
2 years, 10 months ago

No Bar On Operational Creditor To Recover Claims If Claims Were Not Entertained In The Resolution Process: NCLAT

Live Law  

The NCLAT Bench comprising of Justice Ashok Bhushan, Chairperson and Dr. Ashok Kumar Mishra, Technical Member in Go Airlines Ltd. v. Sovika Aviation Services Pvt. held that since the Resolution Plan was withdrawn u/s 12A of the Insolvency and Bankruptcy Code, 2016 and the claims of the Operational Creditor were not entertained, the operational Creditor is at liberty to file …

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