NCLT admits Go First’s plea to initiate insolvency resolution
The National Company Law Tribunal (NCLT) on Wednesday admitted Go First’s voluntary plea to initiate the insolvency resolution process against the airline.
A two-member bench comprising president Justice Ramalingam Sudhakar and LN Gupta also appointed Abhliash Lal as interim resolution professional (IRP) to run the debt-ridden company.
It has also put the company under protection of moratorium and directed the suspended board of directors to assist the IRP to run the company during insolvency proceedings.
NCLT also ordered to keep the company as a going concern and ensure that no employee is fired.
