NEW DELHI: The destiny of Go First, which stopped flying on Could 3, 2023, could also be recognized throughout the subsequent two months. The Nationwide Firm Regulation Tribunal (NCLT) on Monday prolonged the erstwhile Wadia Group airline’s company insolvency decision course of (CIRP) by one other 60 days. The utmost 330-day interval (with extensions) inside which CIRP needs to be concluded below India’s insolvency regulation was over for Go First however the NCLT gave it additional extension below distinctive circumstances and in stakeholder curiosity as two bids are being thought of by the committee of collectors (CoC).
The decision skilled had sought one other extension, with the request being permitted by the CoC comprising of Central Financial institution of India, Financial institution of Baroda, and IDBI Financial institution, as two decision plans are being finalised.
The decision skilled had sought one other extension, with the request being permitted by the CoC comprising of Central Financial institution of India, Financial institution of Baroda, and IDBI Financial institution, as two decision plans are being finalised.
