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NCLT extends insolvency process of Go First by 90 days effective Nov 6
The Morning Standard
|November 24, 2023
THE National Company Law Tribunal (NCLT) on Thursday extended the Corporate Insolvency Resolution Process (CIRP) of the grounded airline Go First by 90 days. The extension, effective from 6 November this year, will end on 4 February, 2024.
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The tribunal dismissed the airline's lessors' objections against the extension and asked the resolution professional (RP) of the airline to submit a 90-day action plan. It said the resolution plan should be completed within the stipulated time period. The extension comes as a relief for Go First and its stakeholders amid report that billionaire Naveen Jindal-backed Jindal Power Ltd (JLP) has decided not to go ahead with its plan to bid for the airline.
Cette histoire est tirée de l'édition November 24, 2023 de The Morning Standard.
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