Go First insolvency: NCLT grants additional 60-day extension to complete resolution process
The National Company Law Tribunal (NCLT) has granted an additional 60-day extension for the resolution process of grounded airline Go First.
The decision came after a plea was filed by the resolution professional (RP) of Go First, seeking more time to complete the corporate insolvency resolution process (CIRP).
During the hearing, Diwakar Maheshwari, representing the RP, informed the two-member bench of the Delhi-based NCLT that three parties have submitted their expression of interest for Go First and have deposited earnest money. These firms are expected to submit their resolution plans for the airline, which has been undergoing CIRP since May 10, 2023.
