On May 2, 2023, Go First filed a voluntary plea under Section 10 of the IBC, seeking admission to the Corporate Insolvency Resolution Process (CIRP). The NCLT admitted the application on May 10, appointing a Resolution Professional (RP) to manage the airline’s affairs.
In response, the airline’s lessors appealed to the National Company Law Appellate Tribunal (NCLAT), arguing that their assets had been unfairly retained under the moratorium despite the termination of leases before the proceedings began.
On May 22, 2023, the NCLAT upheld the NCLT’s decision and directed the lessors to seek clarification regarding the moratorium from the NCLT.
The lessors subsequently approached the Delhi High Court, urging the Directorate General of Civil…
