The management of GoFirst has also been directed to deposit Rs 5 crore with the IRP to meet the expenses.
NCLT order on Go First directs initiation of corporate insolvency resolution process and appointment of insolvency resolution professional
The National Company Law Tribunal (NCLT) has accepted beleaguered airline GoFirst’s plea for voluntary bankruptcy, and protection under moratorium from recovery by lessors and lenders, according to CNBC-TV 18,
The NCLT order directs initiation of corporate insolvency resolution process and appointment of insolvency resolution professional (IRP). It also directed the IRP to maintain the status of the airline as a going concern.
The GoFirst management has also been directed to deposit Rs 5 crore with the IRP to meet the expenses.
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