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The tribunal also questioned the motive of Go First's lenders for filing a separate application to make their submissions in the pleas by lessors, why the Resolution Professional (RP) is already acting in their interest
The NCLT observed that a police case for abetment of suicide under Indian Penal Code was registered after National Award-winning art director Nitin Desai, one of the directors of corporate debtor ND’s Art World Private Limited, died in his studio on August 2, on the ground that the initiation of CIRP proceedings caused him to die by suicide.
The National Company Law Appellate Tribunal (NCLAT) on Thursday granted permission to Ireland-based lessor Jackson Square Aviation Ltd to inspect its aircraft leased to cash-strapped Go First.This decision follows a similar observation made in ...
The case is expected to be heard by the tribunal shortly as it was listed at the Registrar's court today.
This application "has been filed pursuant to the findings in the report received from Nangia & Co. LLP, which was appointed as 'Transaction Review Auditor' by the RP," said a regulatory filing from Future Retail Ltd (FRL). The Transaction Review Auditor was to assist RP in his duties and the determination, wherein a transaction has been reported under Section 66 of the Code for adjudication by the NCLT.