Its remaining assets include a 94-acre land parcel in Thane, valued at Rs 3,000 crore, an Airbus training facility in Mumbai and its headquarters. The CoC had appointed Dinkar Venkatasubramanian as liquidator. Go First, promoted by the Wadia family, stopped flying on May 3, 2024, a day after it filed for bankruptcy. A financial crisis…
Go First Airlines Enters Liquidation After Failing to Secure Revival Plan Go Airlines (India) Ltd, known as Go First, has been admitted into liquidation by the National Company Law Tribunal (NCLT) in Delhi. This marks the end of the airline’s turbulent journey, with financial struggles and an unsuccessful attempt to revive its operations. The bankruptcy…
Li and Qin departed New Zealand shortly before the share transfer. Grant and Botterill said the pair also withdrew funds from the company’s account, although no figure is disclosed. The liquidator’s financial analysis found Li had an overdrawn current account, and despite demands for repayment, no response was received. AdvertisementAdvertise with NZME. Liquidators have, however,…
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The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of Go First, the budget carrier that stopped flying nearly two years ago amid financial woes. In May 2023, the airline filed for a voluntary insolvency resolution process. The tribunal, in a 15-page order, said it is ordering the liquidation of the corporate debtor…
Central bank urges banks to contact debtors eligible for ‘You Fight, We Help’ assistance The Bank of Thailand has urged banks to proactively contact all eligible borrowers under the government’s “You Fight, We Help” debt relief scheme and to enhance communication efforts after a lower-than-expected number of debtors registered for the programme. From Dec 12,…
Mumbai: The bankruptcy court in Delhi on Monday admitted Go Airlines (India) Ltd, which runs Go First airline, into liquidation after the lenders failed to receive a viable revival plan for the company. The company has admitted liabilities of about Rs 8,575 crore. The NCLT division bench of judicial member Mahendra Khandelwal and technical member…
Reading Time: 2 minutes The latest liquidator’s report on a failed Whanganui meat company has done nothing to reassure farmers who are left tens of thousands of dollars out of pocket. Waimarie Meats Limited was put into liquidation last May owing unsecured creditors almost $800,000, and an additional $300,000 to the Inland Revenue Department. The…
EV startup Canoo files for bankruptcy right before Donald Trump’s inauguration Fortune Read the original article here