The National Company Law Tribunal, on Tuesday, extended the deadline for another 60 days to complete the resolution process of grounded airline Go First.
A two-member bench of the Delhi-based NCLT admitted the plea filed by the resolution professional (RP) of Go First seeking an extension of the timeline to complete the corporate insolvency resolution process (CIRP).
Diwakar Maheshwari, appearing for RP, argued that so far three parties have submitted their expression of interest for Go First and deposited the earnest money.
These firms are expected to submit resolution plans for Go First which has been undergoing CIRP since May 10, 2023.
This is the second such extension granted by the NCLT. The tribunal had on November 23 last year gra…
Read the full article at: https://www.theweek.in/news/biz-tech/2024/02/13/nclt-extends-deadline-for-go-firsts-insolvency-for-another-60-days.html