Go First seeks interim moratorium, NCLT says no such provision under IBC

Go First on Thursday sought an interim moratorium and various directions from the National Company Law Tribunal (NCLT), including restraining lessors from taking back aircraft and regulator Directorate General of Civil Aviation (DGCA) from taking any adverse action against the airline.

NCLT, however, said that there is no provision for an interim moratorium under the Insolvency and Bankruptcy Code (IBC), as reported by The Economic Times (ET).

Go First told the court that the primary aim of filing for insolvency was to revive the airlines and it seeks a comprehensive debt restructuring.