NEW DELHI: The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of GoAir (Go First) following a request from lenders of the bankrupt airline. The Wadia Group airline had stopped flying in May 2023 when it filed a voluntary plea for insolvency.
Once attempts to revive it under India’s bankruptcy laws did not materialise, lenders last August had sought to liquidate the company’s assets. GoAir owes over Rs 6,521 crore to creditors including Central Bank of India, Bank of Baroda, IDBI Bank and Deutsche Bank.
Allowing the committee of creditors’ application for Go First’s liquidation, a bench of NCLT comprising judicial member Mahendra Khandelwal and technical member Sanjeev Ranjan directed that Shailendra…
