The National Company Law Tribunal on Monday ordered the liquidation of low-cost carrier Go First.
The order was pronounced by the Delhi bench of the NCLT, comprising judicial member Mahendra Khandelwal and technical member Sanjeev Ranjan.
On May 10, 2023, the NCLT admitted Go First’s plea to initiate voluntary insolvency resolution proceedings, following the airline’s cessation of operations on May 3.
The airline had the insolvency application after citing a severe funding crunch. It attributed its insolvent state to US engine-maker Pratt & Whitney’s “defective and failing engines”.
In June last year, the NCLT granted Go First a 60-day extension to complete the Corporate Insolvency Resolution Process— the airline’s fourth such extension….
