A person carries his bag as he walks previous the Go First airline, previously referred to as GoAir, passenger aircrafts parked on the tarmac on the airport in New Delhi, India, May 11, 2023.
| Photo Credit: Reuters
The National Company Law Appellate Tribunal will pass its order on May 22 on petitions filed by three aircraft lessors towards Go First’s voluntary insolvency decision proceedings.
A two-member Bench headed by Chairperson Justice Ashok Bhushan on May 15 reserved its order after finishing the listening to on the the three petitions.
The Bench additionally requested the events to submit further paperwork, if any, within the subsequent 48 hours.
The appellate tribunal was listening to a batch of petitions filed by SMBC Aviation Capital Ltd, GY Aviation and SFV Aircraft Holdings.
All three lessors have leased out round 21 aircraft to Go First.
So far this month, a number of lessors have approached aviation regulator DGCA for deregistration and repossession of Go First’s 45 planes.
Go First stopped flying from May 3.
Last week the Delhi-based principal bench of the NCLT appointed an interim decision skilled to take care of the affairs of Go First and likewise suspended its board as a part of the insolvency decision course of.
