The National Company Law Tribunal has extended the Corporate Insolvency Resolution Process (CIRP) of the cash-strapped airline Go First by 90 days till February 4, 2024. The Committee of Creditors (CoC) said the six-month moratorium period ended on November 6.
On October 17, it passed a resolution to extend the resolution process by 90 days. The 90-day period has already started from November 6, 2023, and will extend till February 4, 2024.
The NCLT has asked the embattled airline to submit an action plan within the stipulated period of time. The tribunal said that if the airline fails to complete the resolution process in this 90-day period, it would initiate the liquidation process of the company.
Go First’s Resolution Professional …
Read the full article at: https://www.businesstoday.in/industry/aviation/story/nclt-extends-go-firsts-moratorium-period-till-feb-4-demands-resolution-plan-within-90-days-406839-2023-11-23