NCLT ends Go First's turbulent ride, steers co into liquidation – Economic Times
NCLT ends Go First’s turbulent ride, steers co into liquidation Economic Times Read the original article here
NCLT orders liquidation of Go First
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 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…
Former Landwork Civil directors left country after withdrawing company funds
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 on January 21, 2025: Twist in Go First insolvency: Busy Bee Airways challenges liquidation
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…
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Go First flies into sunset, NCLT orders liquidation
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…
NCLT ends GoFirst’s turbulent ride, steers Co into liquidation, ET Infra
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…
Little hope for meat company creditors
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…
Another Indian Carrier Bites the Dust, Indian National Company Law Tribunal orders liquidation of Go First.
The Indian National Company Law Tribunal (NCLT) has issued an order for the liquidation of the grounded ultra low-cost Indian carrier Go First, marking the final chapter in the airline’s financial turmoil. The decision was made by an NCLT bench comprising Judicial Member Mahendra Khandelwal and Technical Member Dr. Sanjeev Ranjan, who upheld the…