The National Company Law Tribunal on Thursday allowed an appeal by the resolution professional of Go First to extend the resolution timeline of the stressed domestic carrier by 90 days till February 4, 2024. The committee of creditors comprising representatives of Central Bank of India, Bank of Baroda and IDBI Bank had on October 17 passed a resolution to extend the resolution process by 90 days. The 180 days granted to complete the insolvency process ended on November 6. The resolution professional is yet to find a bidder for the beleaguered airline, which applied for voluntary insolvency under Section 10 of the Insolvency and Bankruptcy Code in May.
