NCLT notices to Go First lenders and IBBI over ticket refunds

The National Company Law Tribunal Monday issued notices to Go First’s Committee of Creditors and the Insolvency and Bankruptcy Board of India on the issue of resolution professional’s plea for refunding ₹ 597.5 crore for tickets booked by the airline. The resolution professional of the beleaguered airline informed the court that 97% of the bookings were through aggregators who had put security deposits in escrow accounts in order to make bookings.