Following a request from the airline’s Committee of Creditors (CoC), the National Company Law Tribunal (NCLT) ordered Go First Airways to be liquidated, according to a story published on Monday by Bar and Bench.
“Liquidation is ordered,” the NCLT panel, which is composed of Technical Member Dr. Sanjeev Ranjan and Judicial Member Mahendra Khandelwal, confirmed the ruling.
On May 2, 2023, Go First voluntarily submitted an application to be admitted to the Corporate Insolvency Resolution Process (CIRP) in accordance with Section 10 of the Insolvency and Bankruptcy Code (IBC). On May 10, the NCLT accepted the plea and designated a Resolution Professional (RP) to oversee the airline’s activities.
After this, the lessors of the…
