New Delhi: In a relief for Go First airline, the National Company Law Appellate Tribunal on Monday upheld the National Company Law Tribunal’s order on the Wadia Group-backed airline’s insolvency proceedings, thus keeping the moratorium in place for the airline’s aircraft.
In the petition filed by one of the lessors SMBC Aviation Capital, the tribunal has asked the lessors to approach NCLT to further appeal the order dated 10 May.
In its petition before the appeals court, SMBC had alleged that the initiation of voluntary insolvency by Go First was, in fact, a fraudulent exercise.
Arun Kathpalia, senior counsel appearing for the lessor, had argued that it had terminated its lease with Go First before the moratorium and now wants t…
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