Even as the National Company Law Appellate Tribunal (NCLAT) on Friday upheld the liquidation order for Go First Airways, it has paved the way for a potential revival—at least in part—by allowing EaseMyTrip co-founder Nishant Pitti’s company to propose an asset buyout scheme.
The appellate tribunal dismissed a batch of appeals, including one filed by Pitti-led Busy Bee Airways, which had challenged the National Company Law Tribunal’s (NCLT) January 2025 order to liquidate the cash-strapped airline. However, in a significant move, the NCLAT permitted Busy Bee to file a scheme with Go First’s liquidator to acquire the airline’s assets.
As per the order, the liquidator is empowered to “consider” the scheme submitted by Busy…
