The National Company Law Tribunal (NCLT) has ordered the liquidation of Go First airline, according to multiple media reports. A NCLT bench, led by Judicial Member Mahendra Khandelwal and Technical Member Dr Sanjeev Ranjan, granted the liquidation petition filed by the airline’s Committee of Creditors, reported Bar and Bench. Go First’s lenders decided to liquidate…
Go First’s lenders decided to liquidate the bankrupt budget carrier’s assets in August of last year after rejecting bids by interest suitors. Go First will be the second airline which will go through the liquidation process. Subscribe to Notifications The National Company Law Tribunal (NCLT) has ordered the liquidation of Go First Airways, according to…
The tail fins of Go First airline, formerly known as GoAir, passenger aircrafts are seen parked on the tarmac at the airport in New Delhi, India, May 11, 2023. | Photo Credit: Reuters The National Company Law Tribunal (NCLT) has ordered the liquidation of Go First Airways after a request from the cash-strapped airline’s lenders.…
(Reuters) – An Indian tribunal has ordered the liquidation of Go First Airways after a request from the cash-strapped airline’s lenders, CNBC-TV18 reported on Monday. Go First Airways did not immediately respond to a Reuters request for comment. In August, Go First’s lenders had decided to liquidate the company’s assets after rejecting bids by interested…
The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of Go First Airways, reported Bar and Bench. A bench comprising Judicial Member Mahendra Khandelwal and Technical Member Dr. Sanjeev Ranjan allowed an application filed by the Committee of Creditors (CoC) seeking the airline’s liquidation. “Liquidation is ordered,” the bench was quoted as saying.…
The National Company Law Tribunal (NCLT), on Monday, approved the liquidation of Go First, the grounded budget airline. The decision was delivered by a bench comprising Judicial Member Mahendra Khandelwal and Technical Member Dr Sanjeev Ranjan, who ruled in favour of the application submitted by the airline’s Committee of Creditors (CoC). Company Value Change %Change…
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The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of Go First, concluding the 21-month-long insolvency proceedings against the budget airline. The bankrupt airline landed in the bankruptcy court in May 2023. The airline held a 6.9% market share in India’s aviation sector at the time but was left with no viable assets…
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The National Company Law Tribunal on Monday ordered the liquidation of low-cost carrier Go First. The order was pronounced by the Delhi bench of the NCLT, comprising judicial member Mahendra Khandelwal and technical member Sanjeev Ranjan. On May 10, 2023, the NCLT admitted Go First’s plea to initiate voluntary insolvency resolution proceedings, following the airline’s…