The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of Go First Airways, reported Bar and Bench.
A bench comprising Judicial Member Mahendra Khandelwal and Technical Member Dr. Sanjeev Ranjan allowed an application filed by the Committee of Creditors (CoC) seeking the airline’s liquidation.
“Liquidation is ordered,” the bench was quoted as saying.
The detailed order is awaited.
Go First, operated by Wadia Group, filed for voluntary insolvency under Section 10 of the Insolvency and Bankruptcy Code (IBC) on May 2, 2023.
The plea was admitted by the NCLT on May 10, 2023, and a Resolution Professional (RP) was appointed to oversee the airline’s operations.
The airline’s troubles deepened as lessors challenged…