Go First gets 90 days extension

NCLT extends resolution timeline to 4 February

- Krishna Yadav

The National Company Law Tribunal (NCLT) on Thursday extended the moratorium period for Go First airline by an additional 90 days till 4 February under the insolvency resolution process and wants the process to be completed within this period.

The tribunal noted that failure to complete the corporate insolvency resolution process (CIRP) process within the extended period might force initiation of a liquidation process. The Resolution Professional (RP) for Go First has been instructed by the NCLT to present a comprehensive plan of action to revive the airline within this timeframe.