The National Company Law Tribunal (NCLT) has granted a 60-day extension to the Corporate Insolvency Resolution Process (CIRP) of the grounded airline Go First, emphasising that this would be the final extension, according to a report by MoneyControl on Wednesday. This marks the fourth such extension requested by Go Firsts lenders. The CIRP is now set to conclude on August 3, 2024.
This decision follows the revelation that three parties have expressed interest in acquiring the airline.
Go First filed for insolvency under Section 10 of the IBC on May 2, 2023, seeking to be admitted to the CIRP. The NCLT accepted the plea on May 10, 2023, and appointed a resolution professional (RP)…
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