Go First crisis: The National Company Law Tribunal has extended the deadline for the completion of the resolution process of beleaguered airline Go First by 60 days. The resolution professional had sought an extension of the deadline to complete the corporate insolvency resolution process (CIRP).
A two-member bench of the Delhi-based NCLT admitted the plea of resolution professional.
The counsel, appearing for the RP, argued that so far three parties have submitted their expression of interest for Go First and have also deposited earnest money. These firms are expected to submit resolution plans for Go First. The three firms in question are budget carrier SpiceJet, Sharjah-based Sky One, and African continent-focused firm Safrik Inve…
Read the full article at: https://www.businesstoday.in/industry/aviation/story/go-first-insolvency-nclt-extends-deadline-by-60-days-to-complete-resolution-process-417319-2024-02-13