Three appeals were filed challenging the order dated 20.01.2025 passed by the National Company Law Tribunal, Court V, New Delhi, which allowed the Liquidation Application and directed the liquidation of Go Airlines (India) Limited.
Go Airlines (India) Ltd. was incorporated on 29.04.2004 and operated as a low-cost airline under the brand name 'GoAir', later renamed 'GoFirst' in May 2021.
The Corporate Debtor (CD) started defaulting on payments to vendors and aircraft lessors in 2022, leading to grounding of 34% of its aircraft.
The CD stopped operations and filed an application under Section 10 of the IBC on 30.04.2023, which was admitted by the NCLT on 10.05.2023.
The Resolution Professional (RP) invited Expression of Interest (Eol), receiving responses from three entities, including Busy Bee Airways Pvt. Ltd.
The Committee of Creditors (CoC) resolved to liquidate the CD with 100% vote share on 23.07.2024, finding no compliant resolution plan.
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Order passed by the Adjudicating Authority…
The CD stopped operations and passed a…
Three appeals were filed challenging the order dated 20.01.2025 passed by the National Company Law Tribunal, Court V, New Delhi, which allowed the Liquidation Application and directed the liquidation of Go Airlines (India) Limited.
Go Airlines (India) Ltd. was incorporated on 29.04.2004 and operated as a low-cost airline under the brand name 'GoAir', later renamed 'GoFirst' in May 2021.
The Corporate Debtor (CD) started defaulting on payments to vendors and aircraft lessors in 2022, leading to grounding of 34% of its aircraft.
The CD stopped operations and filed an application under Section 10 of the IBC on 30.04.2023, which was admitted by the NCLT on 10.05.2023.
The Resolution Professional (RP) invited Expression of Interest (Eol), receiving responses from three entities, including Busy Bee Airways Pvt. Ltd.
The Committee of Creditors (CoC) resolved to liquidate the CD with 100% vote share on 23.07.2024, finding no compliant resolution plan.
…Order passed by the Adjudicating Authority…
The CD stopped operations and passed a…