The lenders of airline Go First are seeking to recover around 25-30 per cent or Rs 1,600 crore-Rs 1,900 crore of their exposure to the airline. A senior banker said that this would come from the land in Thane that the Wadia group has given as collateral to the banks, according to a report in the Financial Express (FE).
Go First, which stopped its flying operations from May 3 this year, is undergoing an insolvency resolution process under the Insolvency and Bankruptcy Code (IBC). The airline owes Rs 6,521 crore to the lenders, including the Central Bank of India, the Bank of Baroda, the Deutsche Bank, and the IDBI Bank.
