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 the bankrupt budget carrier’s assets in August of last year after rejecting bids by interest suitors.
In May 2023, the airline had filed a plea under Section 10 of the Insolvency and Bankruptcy Code (IBC), requesting admission to the Corporate Insolvency Resolution Process (CIRP).
It may be noted that the airline had received two bids as part of the bankruptcy process, and…
