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 crisis, as per legal papers seen by news agency Reuters. Not just SMBC, but firms such as Jackson Square Aviation and Bank of China Aviation also raised alarm after the NCLT admitted Go First’s insolvency plea, giving the airline a lifeline to revive itself. SMBC also called Go First’s voluntary insolvency filing a “smokescreen” to defraud creditors and lessors.

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History of this topic

Fresh trouble for SpiceJet as three aircraft lessors, former pilot file insolvency pleas
3 weeks, 3 days ago

Fresh trouble for SpiceJet as three aircraft lessors, former pilot file insolvency pleas

The Hindu  

SpiceJet is facing a fresh round of troubles as three Ireland-based aircraft lessors and a former pilot have filed insolvency pleas in NCLT against the budget carrier, claiming defaults. Three lessors - NGF Alpha, NGF Genesis and NGF Charlie- have filed petitions under Section 9 of IBC, seeking initiation of insolvency proceedings against SpiceJet claiming dues totalling $12.68 million. SpiceJet, …

NCLT New Delhi Orders Liquidation Of Go Airlines (India) Limited
2 months, 1 week 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 …

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 …

GoFirst's last stand with two suitors in the wings: Understanding airline insolvency in India
11 months, 2 weeks ago

GoFirst's last stand with two suitors in the wings: Understanding airline insolvency in India

Hindustan Times  

Earlier this week, the National Company Law Tribunal extended the moratorium period on Go First’s dues and leased aircraft by another 60 days giving the grounded airline a final chance to get new owners. Go First has two suitors — a consortium of SpiceJet chief Ajay Singh and Busy Bee Airways and Sharjah-based Sky One — who have shown interest …

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

SpiceJet to submit offer to Go First after due diligence to create an ‘airline in collaboration’
1 year, 3 months ago

SpiceJet to submit offer to Go First after due diligence to create an ‘airline in collaboration’

Firstpost  

The news, which pushed up SpiceJet shares by more than 7%, came after Go First’s lenders began contemplating the airline’s liquidation after they did not get any bids for it within the late November deadline Budget carrier SpiceJet said on Tuesday that it will submit an offer with the resolution professional of Go First after due diligence to “create an …

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 First gets claims worth ₹23,777 crore from creditors
1 year, 8 months ago

Go First gets claims worth ₹23,777 crore from creditors

Live Mint  

Go Airlines Ltd has received claims totaling ₹23,777 crore from both operational and financial creditors as part of its ongoing insolvency process, according to two banking sources who spoke to Reuters. The resolution professional overseeing Go Airlines is yet to authenticate the validity of the claims and did not promptly respond to a request for comment from Reuters via email. …

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 First extends flight cancellations till June 30
1 year, 9 months ago

Go First extends flight cancellations till June 30

India TV News  

Go First update: Go First, an airline facing a crisis, has announced that its scheduled flight operations will continue to be cancelled until June 30 for operational reasons. Early this May, Go First filed for bankruptcy at the National Company Law Tribunal and suspended its flight operations due to rising losses, primarily due to delays in the delivery of Pratt …

GoFirst flights grounded for almost 2 months after it filed 'insolvency' | READ
1 year, 9 months ago

GoFirst flights grounded for almost 2 months after it filed 'insolvency' | READ

India TV News  

Go First update: Crisis-hit airline Go First on Wednesday announced that its scheduled flight operations will remain cancelled till June 25 due to operational reasons. Earlier, the airline said that operations would remain cancelled till June 22. Early this May, Go First filed for bankruptcy at the National Company Law Tribunal and suspended its flight operations due to rising losses, …

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 extends flight cancellations till THIS DATE amid ongoing crisis | CHECK HERE
1 year, 9 months ago

Go First extends flight cancellations till THIS DATE amid ongoing crisis | CHECK HERE

India TV News  

Go First extends flight cancellations till THIS DATE amid ongoing crisis | CHECK HERE Go First crisis: The airline operator had in early May filed for voluntary insolvency and since then its operations were kept stalled. Go First crisis: Amid the ongoing crisis, Airline Go First on Tuesday announced that its scheduled flight operations will remain cancelled till June 16, …

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 …

Go First: Lessors' applications shown 'rejected' due to technical glitch, DGCA to Delhi High Court
1 year, 10 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 …

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 …

‘Not great thing for civil aviation’: Jyotiraditya Scindia on Go First insolvency case
1 year, 10 months ago

‘Not great thing for civil aviation’: Jyotiraditya Scindia on Go First insolvency case

Hindustan Times  

Civil Aviation minister Jyotiraditya Scindia on Thursday has opened up on the domestic airline Go First insolvency matter and said that it is "not a great thing for aviation" and the ministry is committed to help the bankrupt airline. Read here: Pilots seek government's help to quit Go First, sidestepping notice periods "It is certainly something that is not a …

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 …

Not great for civil aviation: Jyotiraditya Scindia reacts to Go First crisis
1 year, 10 months ago

Not great for civil aviation: Jyotiraditya Scindia reacts to Go First crisis

India Today  

Not great, said Civil Aviation Minister Jyotiraditya Scindia about the Go First airline undergoing a financial crisis. In its insolvency petition to the National Company Law Tribunal, Go First airline had blamed US aerospace manufacturer Pratt and Whitney for its financial troubles. The aviation regulator took action immediately and is waiting for Go First's plan to resume flights," Scindia said. …

Go First crisis: What is CTC? Why India’s aviation sector needs it
1 year, 10 months ago

Go First crisis: What is CTC? Why India’s aviation sector needs it

Live Mint  

Amid the Go First crisis, the global aviation leasing watchdog has put India on a watchlist with a negative outlook following the NCLT order restricting the Wadia Group's bankrupt airline's lessors from repossessing planes as the insolvency process is underway. Go First's lessors include SMBC Aviation, CDB Aviation's GY Aviation Leasing, Jackson Square Aviation, and BOC Aviation. Union Aviation Minister …

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 …

Explained: Why Go First crisis could increase cost of air travel in India
1 year, 10 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 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 crisis will not change Indian aviation's growth trajectory: Boeing
1 year, 10 months ago

Go First crisis will not change Indian aviation's growth trajectory: Boeing

Firstpost  

US aircraft maker Boeing on Friday said the crisis at Go First will not change the trajectory of the Indian civil aviation market in terms of growth and macro trends while legislative clarity on aircraft leasing aspects will provide more comfort to the lessors. Against the backdrop of insolvency proceedings being initiated against cash-strapped Go First, Boeing India President Salil …

‘India is a risky jurisdiction…,’ SMBC Aviation warns amid Go First crisis
1 year, 10 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: 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 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 …

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