The National Company Law Tribunal (NCLT) has ordered the liquidation of Go First Airways following a petition filed by its Committee of Creditors (CoC). The decision, made by a Bench led by Judicial Member Mahendra Khandelwal and Technical Member Dr. Sanjeev Ranjan, marks the end of the budget airline’s operations. Go First had filed a voluntary plea under Section 10 of the Insolvency and Bankruptcy Code (IBC) in May 2023, requesting admission to the Corporate Insolvency Resolution Process (CIRP). Despite appointing a Resolution Professional (RP) to oversee operations, no revival options were identified.
The airline’s lessors challenged the insolvency proceedings, arguing their assets had been unfairly retained under the…
