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The amalgamation will come into effect upon completing all legal formalities, including filing a certified copy of the NCLAT order with the jurisdictional Registrar of Companies.
The appeal, listed for hearing on November 19, 2024, saw a major development when the NCLAT was informed that the matter had been amicably resolved between the parties.
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.
Both CCI and Alphabet Inc-owned Google approached Supreme Court against the NCLAT order. A bench led by CJI DY Chandrachud and Justice PS Narsimha accepted the appeals from both the parties and adjourned the hearing till next Friday due to unavailability of senior advocate Harish Salve, who is representing one of the parties.
The move came after Zee's CEO, Punit Goenka, disputed the company's insolvency procedures.
Twin Star Technologies is owned by Anil Agarwal-led Vedanta Group’s Volcan Investments.