Busy Bee retreats from Go First bid amid liquidation process

Busy Bee Airways Pvt. Ltd, former bidder for bankrupt airline Go First, on Tuesday withdrew its plea challenging the 18 December decision of the National Company Law Tribunal (NCLT) reserving the liquidation order.

- Krishna Yadav

During a hearing in the NCLT on Tuesday, the company expressed its interest to submit a resolution plan to acquire the grounded carrier. The bidder also filed a plea requesting the tribunal to direct the resolution professional (RP) and the committee of creditors (CoC) to halt any liquidation-related actions.

Since the NCLT had already passed its liquidation order for Go First on 20 January, the bidder withdrew its plea, stating it would explore other options for relief.