In a significant development, the National Company Law Appellate Tribunal (NCLAT) has given Engine Lease Finance BV the green light to inspect its four engines leased to the financially troubled Go First airline.
A two-member panel at the appellate tribunal granted this relief to Engine Lease Finance (ELF) after revising a prior ruling made by the National Company Law Tribunal (NCLT) on July 26. The NCLAT has now directed Go First’s resolution professional, who is overseeing the corporate insolvency resolution process (CIRP), to permit ELF, a prominent global engine financing and leasing company, to conduct the inspections within ten days from the date of the order.
