NCLT granted a 60-day moratorium extension to bankrupt airline Go First, providing more time for its corporate insolvency resolution process (CIRP), now extending to 330 days.

The National Company Law Tribunal has approved a 60-day extension to Go First's moratorium, adding more time for the Indian airline to complete its corporate insolvency resolution process. The extension, which increases the timeline for Go First's resolution process to 330 days, has been granted following unanimous agreement from the airline's creditors, who have already spent over 270 days under insolvency. The resolution professional overseeing Go First's case informed the court that three potential buyers have shown interest in acquiring the airline and have already deposited funds. However, the airline's future remains uncertain, with no clear resolution plan in sight.

February 13, 2024
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