The National Company Law Tribunal (NCLT) ordered the liquidation of Go First Airways after a request from the airline’s Committee of Creditors (CoC), Bar and bench reported on Monday. The NCLT bench, consisting of Judicial Member Mahendra Khandelwal and Technical Member Dr. Sanjeev Ranjan, confirmed the decision, saying, “Liquidation is ordered.” Go First filed a…
National Company Law Tribunal, New Delhi: In an application file seeking initiation of liquidation proceeding of Go Airlines (India) Limited under Section 33(2) of Insolvency and Bankruptcy Code, 2016 (IBC) based on CoC resolution, a Division bench of Mahendra Khandelwal* (Judicial Member) and Dr. Sanjeev Ranjan (Technical Member), allowed the liquidation of Go Airlines (India)…
To use this website, cookies must be enabled in your browser. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a…
Invoice lending firm Procuret enters voluntary administration The Australian Read the original article here
Image Source : FILE Go First The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of Go First, marking a dramatic end to the airline’s 17-year legacy in the Indian aviation industry. The decision follows the airline’s prolonged financial struggles, which led to the suspension of its operations nearly three years ago. In…
NCLT ends Go First’s turbulent ride, steers co into liquidation Economic Times Read the original article here
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,…
Companies News Today Live Updates: Stay ahead of the curve with the latest insights from the corporate world through our company news coverage. This section provides a detailed look at significant events affecting industries and markets globally, including mergers, acquisitions, financial reports, and strategic shifts in leadership and operations. Whether you’re an investor, a business…