- The Indian National Company Law Tribunal (NCLT) has issued an order for the liquidation of the grounded ultra low-cost Indian carrier Go First, marking the final chapter in the airline’s financial turmoil.
- The decision was made by an NCLT bench comprising Judicial Member Mahendra Khandelwal and Technical Member Dr. Sanjeev Ranjan, who upheld the Committee of Creditors (CoC) application for liquidation.
- The liquidator should submit a preliminary report to the tribunal within 75 days from the date of commencement of the liquidation.
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The cash-starved airline reported a loss in the range of INR 1,800 crore, including an INR 800 crore notional loss due to accounting standards in the financial year ended March…
