{"id":574615,"date":"2023-05-04T12:35:28","date_gmt":"2023-05-04T07:05:28","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=574615"},"modified":"2023-05-04T12:35:28","modified_gmt":"2023-05-04T07:05:28","slug":"go-first-dues-wadias-may-offer-one-time-settlement","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/go-first-dues-wadias-may-offer-one-time-settlement\/","title":{"rendered":"Go First dues: Wadias may offer one-time settlement"},"content":{"rendered":"<p>The Wadia Group is likely to press for a one-time settlement with banks as part of its resolution plan for Go First airline, under which the financial creditors will have to take a substantial haircut, legal experts dealing with insolvency and bankruptcy matters told FE.<\/p>\n<p>The company has filed its petition under Section 10 of the Insolvency and Bankruptcy Code, which is different from Section 7 and 9 where the financial and operational creditors, respectively, take the corporate debtor to the National Company Law Tribunal (NCLT) on default in payment of dues. Section 10 of the IBC, allows a debtor to initiate an insolvency resolution process against itself if it has committed any default. Since the Wadia Group has not defaulted, it will not be barred from offering a resolution plan, corporate lawyers said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Wadia Group is likely to press for a one-time settlement with banks as part of its resolution plan for Go First airline, under which the financial creditors will have to take a substantial haircut, legal experts dealing with insolvency and bankruptcy matters told FE. The company has filed its petition under Section 10 of the Insolvency and Bankruptcy Code, which is different from Section 7 and 9 where the financial and operational creditors, respectively, take the corporate debtor to the National Company Law Tribunal (NCLT) on default in payment of dues. Section 10 of the IBC, allows a debtor [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[196,130,138],"tags":[],"class_list":["post-574615","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-financial-express","category-newspapers","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/574615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=574615"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/574615\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=574615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=574615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=574615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}