 
                  
Go First faces uncertainty as NCLT grants 90 day extension in insolvency proceedings
NCLT has granted a 90-day extension to the Corporate Insolvency Resolution Process (CIRP) for Go First.
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NCLT has granted a 90-day extension to the Corporate Insolvency Resolution Process (CIRP) for Go First.
 
                  
On August 7, 2023, the Supreme Court went against the decision of the Go First appeal against the order of the High Court, allowing for the aircraft inspections.
 
                  
The tribunal is anticipated to hear the lessor's appeal, which was listed at the registrar's court today, during the upcoming week. The Registrar's Court is in charge of examining the legal compliance of the pleadings submitted by the plaintiffs.
 
                  
Go First, formerly owned by the Wadia Group, filed for bankruptcy blaming Pratt & Whitney's defective engines for its financial problems. On May 10, NCLT acknowledged the issue, suspended the board, and put a hold on the airline's financial commitments.
 
                  
According to senior executive of Go First, around 150 employees which includes 30 pilots and 50 cabin crew members as well are planning to resign in the next two weeks
 
                  
Go First, a Mumbai-based airline that ceased operations on May 3, has cancelled all of its flights through July 25 while going through an insolvency resolution procedure.
