The National Company Law Tribunal (NCLT) ordered the liquidation of budget carrier Go First Airways on Monday. The airline had first filed a plea seeking admission to the Corporate Insolvency Resolution Process (CIRP) under IBC in May 2023. The NCLT had admitted the application a few days later, and appointed a Resolution Professional (RP).
“Liquidation is ordered,” said a bench of NCLT comprising Judicial Member Mahendra Khandelwal and Technical Member Dr Sanjeev Ranjan allowing the liquidation application filed by the Committee of Creditors (CoC) of the airline, as per a report by Bar and Bench.
A detailed copy of the order is awaited, as per the report.
The airline’s lessors had appealed to the National Company Law…
