Go Airlines (India) Flies Into Liquidation
NCLT orders liquidation of bankrupt carrier, which operated ultra-low-cost airline Go First, and appoints Dinkar Venkatasubramanian as the liquidator
(The Corner Office Journal) -- India’s National Company Law Tribunal (NCLT) today ordered the liquidation of bankrupt carrier Go Airlines (India) Ltd.
The tribunal also appointed Dinkar Tiruvannadapuram Venkatasubramanian as the liquidator of the company, which operated ultra-low-cost airline Go First, the NCLT order showed.
The order was passed by Judicial Member Mahendra Khandelwal and Technical Member Sanjeev Ranjan.
The development came after the company’s resolution professional Shailendra Ajmera earlier sought the liquidation of Go Airlines following the decision of its committee of creditors on 23 July 2024.
Go Airlines had voluntarily sought the initiation of insolvency proceedings amid cash crunch and the NCLT allowed the company’s application for voluntary insolvency resolution in May 2023.
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