{"id":575880,"date":"2023-05-11T09:07:47","date_gmt":"2023-05-11T03:37:47","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=575880"},"modified":"2023-05-11T09:41:37","modified_gmt":"2023-05-11T04:11:37","slug":"nclt-admits-go-firsts-insolvency-plea-puts-it-under-moratorium","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/nclt-admits-go-firsts-insolvency-plea-puts-it-under-moratorium\/","title":{"rendered":"NCLT admits Go First&#8217;s insolvency plea, puts it under moratorium"},"content":{"rendered":"<p>The Delhi Bench of the National Company Law Tribunal (NCLT) on Wednesday accepted Go First\u2019s insolvency plea, resulting in the airline being put under a moratorium in accordance with the Insolvency and Bankruptcy Code (IBC). <\/p>\n<p>\u201cThe application of the Corporate Applicant (Go First) is admitted. As a necessary consequence, the moratorium in terms of Section 14(1) (a), (b), (c) &amp; (d) is declared,\u201d the order said. All or certain legal remedies against debtors are suspended during a moratorium. This means that lessors of Go First will not be able to take possession of the aircraft.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Delhi Bench of the National Company Law Tribunal (NCLT) on Wednesday accepted Go First\u2019s insolvency plea, resulting in the airline being put under a moratorium in accordance with the Insolvency and Bankruptcy Code (IBC). \u201cThe application of the Corporate Applicant (Go First) is admitted. As a necessary consequence, the moratorium in terms of Section 14(1) (a), (b), (c) &amp; (d) is declared,\u201d the order said. All or certain legal remedies against debtors are suspended during a moratorium. This means that lessors of Go First will not be able to take possession of the aircraft.<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,167,130],"tags":[],"class_list":["post-575880","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-civil-aviation-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/575880","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=575880"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/575880\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=575880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=575880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=575880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}