NCLT reserves order on Go First’s plea for insolvency proceedings; lessors oppose petition

The National Company Law Tribunal (NCLT) on Thursday reserved its order on crisis-hit airline Go First’s plea seeking voluntary insolvency resolution proceedings and interim moratorium on financial obligations while aircraft lessors vehemently opposed the petition.Amid the airline facing severe financial crunch and cancelling flights, a two-member NCLT bench comprising President Justice Ramalingam Sudhakar and Member L N Gupta heard the arguments for and against the petition for nearly four hours.As aircraft lessors opposed the plea, the counsels for Go First said the petition was not a malicious one to avoid payment of dues to its creditors but to save the company.