The National Company Law Tribunal (NCLT) on Monday (20 January) ordered the liquidation of budget airline Go First Airways. The decision followed an application filed by the airline’s Committee of Creditors (CoC), marking the end of a protracted insolvency process.
A bench comprising Judicial Member Mahendra Khandelwal and Technical Member Dr Sanjeev Ranjan delivered the order.
Go First initially filed a voluntary plea for insolvency under Section 10 of the Insolvency and Bankruptcy Code (IBC) on 2 May 2023. The NCLT admitted the application on 10 May 2023, appointing a Resolution Professional (RP) to manage the airline’s operations.
Subsequent disputes arose as the airline’s lessors challenged the retention of their assets under the…
