The National Company Law Tribunal (NCLT), on Monday, approved the liquidation of Go First, the grounded budget airline. The decision was delivered by a bench comprising Judicial Member Mahendra Khandelwal and Technical Member Dr Sanjeev Ranjan, who ruled in favour of the application submitted by the airline’s Committee of Creditors (CoC).
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Go First, owned by the Wadia Group, ceased operations on May 2, 2023 and voluntarily sought insolvency proceedings on May 10, under Section 10 of the Insolvency and Bankruptcy Code (IBC).
Following its admission into the Corporate Insolvency Resolution Process (CIRP), a Resolution Professional (RP) was appointed to oversee the airline’s assets and operations. However, the CoC…
