NCLT extends deadline for Go First’s insolvency for another 60 days

The National Company Law Tribunal (NCLT) on Tuesday extended the insolvency process of grounded airline Go First by 60 days.

This comes after the resolution professional (RP) of the airline told the tribunal that three parties have expressed interest in taking over the carrier. But some lessors have objected to this extension.

Appearing for the RP, advocate Diwakar Maheshwari told the tribunal that all the three parties had deposited ‘earnest money’ after submitting their expressions of interest (EoIs). And, the airline’s committee of creditors (CoC) had voted by an overwhelming majority to extend the insolvency process.