Bankrupt airline Go First on Thursday told the National Company Law Tribunal (NCLT) that it has no objection to the release of four engines in its possession to the owner, Engine Lease Finance BV.
The Resolution Professional’s (RP) counsel, Advocate Diwakar Maheshwari, told the tribunal that they had already started the process of returning one engine.
The tribunal has now ordered the release of all four engines to the lessor.
Advocate Anandh Venkatramani, appearing for the engine lessor, told the tribunal that their case could be dismissed in light of the High Court order that directed the Directorate General of Civil Aviation (DGCA) to deregister all its 54 aircraft. He added…
Read the full article at: https://www.business-standard.com/companies/news/no-objection-to-release-of-engines-to-lessors-crisis-hit-go-first-to-nclt-124071100933_1.html
Bankrupt airline Go First on Thursday told the National Company Law Tribunal (NCLT) that it has no objection to the release of four engines in its possession to the owner, Engine Lease Finance BV.
The Resolution Professional’s (RP) counsel, Advocate Diwakar Maheshwari, told the tribunal that they had already started the process of returning one engine.
The tribunal has now ordered the release of all four engines to the lessor.
Advocate Anandh Venkatramani, appearing for the engine lessor, told the tribunal that their case could be dismissed in light of the High Court order that directed the Directorate General of Civil Aviation (DGCA) to deregister all its 54 aircraft. He added…
Read the full article at: https://www.business-standard.com/companies/news/no-objection-to-release-of-engines-to-lessors-crisis-hit-go-first-to-nclt-124071100933_1.html