Go First creditors seek complete control over the resolution process

Go First Airline’s lenders are seeking full control of the carrier’s resolution process at the National Company Law Tribunal (NCLT). So far the committee of creditors (CoC) has replaced the interim resolution professional (IRP) and is now also looking to replace the process and legal advisors appointed by NCLT.

According to the submission made to the NCLT, Go First owes Rs 6,521 crore to its creditors. The airline also has outstanding payments to vendors, bringing the total amount owed to Rs 11,463 crore.