NEW DELHI: NCLT on Monday ordered liquidation of GoAir (Go First), following a request from lenders of the bankrupt airline. The Wadia Group airline had stopped flying in May 2023 when it filed a voluntary plea for insolvency. Attempts to revive it beneath India’s chapter legal guidelines didn’t materialise and lenders had sought to liquidate the corporate’s belongings in final Aug. GoAir owes over Rs 6,521 crore to collectors, together with Central Bank of India, Bank of Baroda, IDBI Bank and Deutsche Bank.
Allowing the committee of collectors’ software for Go First’s liquidation, A NCLT comprising judicial member Mahendra Khandelwal and technical member Sanjeev Ranjan bench directed that Shailendra Ajmera, the airline’s decision skilled, be relieved from that duty. Go First, which had began flying in 2005 across the similar time as IndiGo and SpiceJet, flew for 18 years earlier than it joined the lengthy listing of defunct Indian airways that features Air Deccan, Kingfisher and Jet Airways.
