# In the matter of Go Airlines (India) Limited

> NCLT judgment dated 2025-01-20. Citation: TCN-2025-NCLT-00606. The case pertains to an application filed by Mr. Shailendra Ajmera, the Resolution Professional…

- **Court:** NCLT
- **Order date:** 20 Jan 2025
- **Citation:** TCN-2025-NCLT-00606
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/go-airlines-india-limited-0de84fa7

## Summary

### Background

The case pertains to an application filed by Mr. Shailendra Ajmera, the Resolution Professional of Go Airlines (India) Limited, seeking liquidation of the Corporate Debtor under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against Go Airlines on 10.05.2023. The CoC, in its 37th meeting held on 23.07.2024, decided to liquidate the Corporate Debtor due to the absence of a viable resolution plan. The application also sought the appointment of Mr. Dinkar T. Venkatasubramanian as the liquidator, replacing Mr. Shailendra Ajmera, based on IBBI guidelines.

## Facts

The Corporate Insolvency Resolution Process (CIRP) against Go Airlines (India) Limited was initiated on 10.05.2023. Mr. Abhilash Lal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Shailendra Ajmera as the Resolution Professional (RP). The Committee of Creditors (CoC) was formed, and they convened their first meeting on 09.06.2023. The IRP made a public announcement on 13.05.2023, inviting stakeholders to submit their claims against the Corporate Debtor, with a deadline of 24.05.2023. The Resolution Plans received were deemed non-compliant with the IBC and commercially unacceptable to the CoC. The CoC, in its 37th meeting on 23.07.2024, decided to liquidate the Corporate Debtor with 100% voting share. The estimated

…

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority should approve the liquidation of the Corporate Debtor, Go …

**Ratio:** Section 33(2) of the Insolvency and Bankruptcy Code, 2016, provides that the Adjudicating

…

**Reasoning:** The CoC approved the liquidation of the Corporate Debtor with 100% voting share. The

…

**Interpretation:** Section 33(2) empowers the Adjudicating Authority to order liquidation when the

…

**Application:** In the present case, the CoC approved the liquidation with 100% voting share.

…

## Parties

- **Judges:** MAHENDRA KHANDELWA…; Sanjeev R…
- **Appellants:** SHAILENDRA…
- **Respondents:** Go Airlines…

## Timeline

- **2023-05-10 — Initiation…**: Corporate Insolvency Resolution Process…
- **2023-05-13 — Public Annou…**: IRP made public announcement…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(2) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/go-airlines-india-limited-0de84fa7