The National Company Law Tribunal (NCLT) on Thursday allowed an appeal to extend the resolution timeline for Go First by 90 days.
This extension, which will be effective from November 6, will last till February 4, 2024. According to the current insolvency rules, a resolution process must be completed within 180 days. However, this period can be extended such that the resolution must be completed within 330 days. If this does not happen, the adjudicating authority will initiate the liquidation process.
