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Go First crisis: Go First owes a total of $780.88 million to its creditors that include Central Bank of India, Bank of Baroda, IDBI Bank and Deutsche Bank.
Go First resolution process: The airline's resolution professional had sought an extension of the deadline to complete the corporate insolvency resolution process (CIRP).
The airline has moved a Delaware court to enforce the arbitration ruling, but has run short of funds to pursue the case after it stopped flying in May.
Banks may not approach Wadias for revival of airline.
Go First crisis: The emergency funding will, reportedly, be used for insurance and repairs, which are critical to sustain the operations of the airline.