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The Kerala High Court on Friday laid down that mere uploading of an application under Section 96 of the Insolvency and Bankruptcy Code (IBC), 2016, cannot be regarded as filing of an application for...
A bench led by CJI Dhananjaya Y Chandrachud held that the impugned provisions are bereft of any illegality and augur well with the legislative intent of the Insolvency and Bankruptcy Code, (IBC) 2016 | Latest News India
GoFirst's employees are concerned about their salaries if they stick with the airline through its insolvency resolution process, while its lessors are concerned about their lease payments and have even approached the National Company Law Appellate Tribunal (NCLAT) to contest the order by the NCLT.
The tribunal had reserved its order in the matter on 4 May. The Wadia Group firm filed for insolvency on 2 May following suspension of flights on 3 May.
The Wadia Group-backed carrier voluntarily filed for insolvency at the NCLT on 2 May after announcing suspension of flights for 3-4 May.