NCLT extends insolvency process of grounded airline Go First by 90 days

The National Company Law Tribunal (NCLT) on Thursday extended the insolvency process of grounded airline Go First by 90 days.

The extension will take effect from November 6 this year and end on February 4 next year.

Dismissing the airline’s lessors’ objections to the extension, the NCLT said the resolution plan should be completed within the stipulated period.

The tribunal has asked the resolution professional (RP) of the airline to submit a 90-day action plan.