Business Standard

Lenders considering forensic audit of Go First to check on funds

They want to be sure which entities used the loans granted by them to the airline: Sources

Go First

Deepak Patel New Delhi

Listen to This Article

Lenders are likely to order a forensic audit of Go First airline, which has been under insolvency resolution process since the last month, to check if there has been any diversion of funds, said sources privy to the development on Monday.

Go First’s insolvency application said it owes financial creditors—Deutsche Bank, Bank of Baroda, Central Bank of India and IDBI Bank among them—Rs 6521 crore ($798 million) as on April 28.

Go First declared insolvency due to a cash crunch on May 2 and its application was admitted by the National Company Law Tribunal on May 10. The tribunal had

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 19 2023 | 11:20 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to