NCLAT Upholds Liquidation of Go Airlines
Busy Bee Airways Pvt. Ltdvs Dinkar T Venkatasubramanian CITATION : 2025 TAXSCAN (NCLAT) 182
The National Company Law Appellate Tribunal (NCLAT), New Delhi bench upheld the liquidation by finding that, in the absence of a compliant resolution plan, the Committee of Creditors (CoC), acting in accordance with Section 33(2) of the Insolvency and Bankruptcy Code, 2016, and using its commercial judgment, was within its rights to decide to liquidate the CorporateDebtor, Go Airlines (India) Ltd.
The Tribunal comprising of Justice Ashok Bhushan (Chairperson), Barun Mitra (Technical Member) and Arun Baroka (Technical Member) have held that the decision of the CoC to liquidate the…