New Delhi, Jan 20 (PTI) The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of Go First, the budget carrier that stopped flying nearly three years ago after being bogged down by financial woes.
In May 2023, the airline filed for a voluntary insolvency resolution process citing financial woes.
The tribunal, in a 15-page order, said it is ordering the liquidation of the corporate debtor Go Airlines (India) Ltd.
The NCLT said the Committee of Creditors (CoC) in the legislative scheme is empowered to make the decision to liquidate the corporate debtor, any time after its constitution and before confirmation of the resolution plan.
“It is well settled that the…
