The National Company Law Tribunal (NCLT) has ordered liquidation of Go First. The tribunal passed its order on Tuesday in response to a liquidation plea that was moved following the failure of revival process. Dinkar Venkatasubramanian has been appointed as the liquidator and he has been directed to submit a preliminary report within 75 days…
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New Delhi: 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…
New Delhi, Jan 20 (PTI) The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of Go First, the budget carrier that stopped flying nearly three years ago after being bogged down by financial woes. In May 2023, the airline filed for a voluntary insolvency resolution process citing financial woes. The tribunal, in a…
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The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of budget air carrier Go First Airways two years after it shut flight operations and approached the court seeking voluntary insolvency. A bench of NCLT comprising Judicial Member Mahendra Khandelwal and Technical Member Dr. Sanjeev Ranjan allowed an application for liquidation filed by the…
Go First, which filed for bankruptcy in May 2023, had a 6.9% market share in India’s aviation sector at the time. However, the airline’s assets were effectively wiped out after the Delhi High Court allowed lessors to repossess its fleet of 54 planes. While GoFirst is the second major airline to get grounded in the…
NEW DELHI: The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of GoAir (Go First) following a request from lenders of the bankrupt airline. The Wadia Group airline had stopped flying in May 2023 when it filed a voluntary plea for insolvency. Once attempts to revive it under India’s bankruptcy laws did not…