Go First has received a 60-day extension from the National Company Law Tribunal for its to corporate insolvency resolution process as three parties have expressed interest in taking over the grounded budget carrier.
The resolution professional representing Go First informed the NCLT about the interest from potential buyers.
Previously, on Nov. 6, an extension of 90 days had been approved by the NCLT, with the deadline set for Feb. 4. However, considering the evolving situation and the interest shown by prospective bidders, the NCLT has now extended the CIRP by an additional 60 days, effectively concluding on April 5.
It’s crucial for the resolution plan to be finalised within this specified timeframe. The 60-day extension starts from F…
Read the full article at: https://www.ndtvprofit.com/law-and-policy/go-firsts-insolvency-process-extended-by-60-days