Bankrupt Go First's CEO Kaushik Khona resigns
Go First stopped flying in early May and filed for voluntary bankruptcy proceedings amid financial woes, mainly triggered by Pratt & Whitney engine issues.
Source: moneycontrol.com
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Grounded airline Go First's CEO Kaushik Khona resigns
Grounded Go First's CEO Kaushik Khona has put in his papers, nearly seven months after the no-frills airline filed for insolvency proceedings. In an e mail to the airline's employees on Thursday, Khona said that November 30 is his last day at the company. Khona had returned to Go First in August 2020 as its CEO.
Source: rediff.com
No Recovery Towards TAS Can Be Made Towards Deductee Even If Deductor Is Undergoing CIRP: Delhi High Court
The Delhi High Court has held that no recovery towards Tax at Source (TAS) can be made towards the deductee even if the deductor is undergoing the Corporate Insolvency Resolution Process (CIRP).The...
Source: livelaw.in
Go First gets 90-day breather from NCLT
The National Company Law Tribunal (NCLT) on Thursday extended the moratorium for the Wadia-owned airline Go First airline under the Corporate Insolvency Resolution Process by another 90 days.The NCLT directed that the resolution plan be ...
Source: prokerala.com
NCLT extends Go First's moratorium period till Feb 4, demands resolution plan within 90 days
The NCLT has asked the embattled airline to submit an action plan within the stipulated period of time. The tribunal said that if the airline fails to complete the resolution process in this 90-day period, it would initiate the liquidation of the company.
Source: businesstoday.in