Page 18 - Nclt

Go First insolvency: NCLAT rules in favour of airline, upholds NCLT order

Some lessors are likely to approach NCLT for relief, said a lawyer privy to the matter

NCLAT upholds NCLT order admitting Go First's plea for voluntary insolvency

The National Company Law Appellate Tribunal (NCLAT) on Monday upheld an NCLT order allowing crisis-hit Go First's voluntary insolvency resolution proceedings. A two-member NCLAT bench asked several aircraft lessors of Go First opposing insolvency, to approach National Company Law Tribunal (NCLT) for any remedy. "The order dated May 10, 2023 allowing insolvency is upheld," said the NCLAT bench headed by Chairperson Justice Ashok Bhushan. The direction came on a batch of four petitions filed by aircraft lessors opposing Go First's insolvency proceedings. The lessors are SMBC Aviation Capital Ltd, GY Aviation, SFV Aircraft Holdings and Engine Leasing Finance BV (ELFC).

NCLT rejects IDBI Bank's insolvency plea against Zee Entertainment

Lender has the option to move appellate tribunal to appeal against the order

Space Mantra, five other firms lead race to acquire Future Retail

The CoC had provided two options in the EoI and the last date for submission was April 7

NCLT to hear Spicejet insolvency plea on May 25 as talks with lessor fail

Tribunal gives SpiceJet a week to respond to Dublin-based Aircastle, which sought initiation of insolvency proceedings against the airline under IBC over unpaid dues of Rs 49 crore

With Go First gone, rivals Air India, IndiGo, others ramp up flights

The government of India has also allotted cash-strapped Go First slots after representations that airports will lose money if they are not utilised

Govt may expedite Bill that assures lessors on repossession of aircraft

NCLT had on May 10 barred lessors from repossessing their planes from insolvent Go First

Lessors seek status quo on aircraft, NCLAT to hear matter on Monday

This means that nobody would be able to touch the aircraft for any work until a final order is passed by the Tribunal. The next hearing is on Monday

NCLT dismisses Central Bank insolvency plea against Simplex Infrastructures

EPC firm's balance sheets do not show negative net worth, says tribunal's Kolkata bench

Zee Media board approves submission of bid to pave way for RBNL takeover

In its company filing, Zee Media said that a resolution had been passed on May 5, 2023, that granted approval to the company to submit its EOI with the CIRP of RBNL

Sebi's Shirpur Gold Refinery order raised before NCLT, may bite Goenkas

Bourses NSE, BSE brought up the issue during Zee-Sony merger hearing

Resolution realities

Go First's complexity will be a test case

No question of filing for insolvency, 'rumour baseless': SpiceJet CMD

Airline 'focused firmly' on reviving grounded fleet, says Ajay Singh

NCLAT to hear SMBC Aviation's plea against NCLT order on Go First today

Soon after the NCLT allowed Go First's plea on Wednesday, SMBC Aviation Capital's counsel moved the NCLAT

Go First likely to resume flights on May 24 with fewer aircraft: Report

Go First has also reportedly discussed the plans to resume flights with the Centre

NCLT admits Go First's insolvency plea, puts it under moratorium

Order prevents a viable airline from becoming an unviable one, says airline's CEO

NCLT admits Go First's plea for voluntary insolvency, appoints IRP

It has also granted Go First protection under a moratorium from recovery by lessors and creditors

NCLT admits Go First's plea for voluntary insolvency, appoints IRP

It has also granted Go First protection under a moratorium from recovery by lessors and creditors

NCLT to issue crisis-hit Go First's insolvency order on Wednesday

The airline, widely known as Go First, filed for bankruptcy protection last week, blaming "faulty" Pratt & Whitney engines for the grounding of about half its 54 Airbus A320neo planes

Centre to come up with creditor-led insolvency resolution framework: Report

The creditors and debtors will be allowed to reach an informal agreement to resolve the bankruptcy case and later approach the NCLT to admit cases