Go First flies into sunset, NCLT orders liquidation
The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of Go First, the budget carrier that stopped flying nearly two years ago amid financial woes.
In May 2023, the airline filed for a voluntary insolvency resolution process. The tribunal, in a 15-page order, said it is ordering the liquidation of the corporate debtor Go Airlines (India) Ltd.
On Monday, the NCLT said the Committee of Creditors (CoC) in the legislative scheme is empowered to take the decision to liquidate the corporate debtor, at any time after its constitution and before confirmation of the resolution plan.
The order comes a little over two months after the Supreme Court, on November 7, ordered the liquidation of the once-storied airline Jet Airways.
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