The National Company Law Tribunal (NCLT) has ordered liquidation of Go First.
The tribunal passed its order on Tuesday in response to a liquidation plea that was moved following the failure of revival process.
Dinkar Venkatasubramanian has been appointed as the liquidator and he has been directed to submit a preliminary report within 75 days of liquidation commencement date.
Suspended operations
Go First suspended operations due to a cash crunch in May 2023. Its application for insolvency was admitted on May 10. The airline owed over ₹3,700 crore to lenders at the time of its closure.
There was hope that the airline would take off again when the Directorate General of Civil Aviation allowed restart of operations subject to availability…
