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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).
Go First crisis: Lenders believe that the airline will not find any buyers due to its legal and operational issues, and hence are inclined towards liquidation.
Go First crisis: These changes are reportedly being made because the lenders are a bit apprehensive about continuing with the same support firms as the ones appointed by the company.