Uncertainty prevails over Go Firsts resumption of flights as the National Company Law Appellate Tribunal (NCLAT) asked the lessors to approach the adjudicating court to determine the status of moratorium on seizure of aircraft.
The NCLAT however upheld Go Firsts voluntary insolvency resolution proceedings. The order dated May 10, 2023 allowing insolvency is upheld, said the NCLAT bench headed by Chairperson Justice Ashok Bhushan.
Several lessors had appealed against the National Company Law Tribunals May 10 order granting protection under moratorium to Go First from re-possession of aircraft by lessors, among other adverse actions by the airlines creditors. The NCLT had also admitted the airlines plea for voluntary insolvency and appoint…
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