NEW DELHI : In an attempt to revive bankrupt airline Go First, the National Company Law Tribunal (NCLT) on Monday approved another 60-day extension for its moratorium, aiming to give the airline additional time to finalize its corporate insolvency resolution process (CIRP).
The extension will be effective 4 April to 3 June, and has been allowed keeping in mind the interest of stakeholders, as per the NCLT.
An earlier extension, stretching from 4 February to 4 June, extended Go First’s timeline to 330 days to complete its resolution process.
The resolution professional had filed a plea seeking another extension, which was unanimously approved by the committee of creditors (CoC), comprising Central Bank of India, Bank of Baroda, and…
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