The National Company Law Tribunal (NCLT) ordered the liquidation of Go First Airways after a request from the airline’s Committee of Creditors (CoC), Bar and bench reported on Monday.
The NCLT bench, consisting of Judicial Member Mahendra Khandelwal and Technical Member Dr. Sanjeev Ranjan, confirmed the decision, saying, “Liquidation is ordered.”
Go First filed a voluntary plea for admission to the Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code (IBC) on May 2, 2023. The NCLT admitted the plea on May 10, appointing a Resolution Professional (RP) to manage the airline’s operations. Following this, the airline’s lessors appealed to the National Company Law Appellate Tribunal…
