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NCLAT stays insolvency process against Dream 11 till February 23

Go First RP, lessors slug it out in court over right to fly planes

NCLT reserves order on Go First s plea for insolvency proceeding

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 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.

Aircraft lessors oppose Go First s insolvency resolution plea; NCLT reserves order

Crisis-hit Go First s urgent plea seeking voluntary insolvency resolution proceedings faced vehement opposition from aircraft lessors on Thursday, while the National Company Law Tribunal (NCLT) reserved its order on a day when the carrier extended cancellation of all flights till May 9.

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