NEW DELHI: NCLT on Monday ordered liquidation of GoAir (Go First), following a request from lenders of the bankrupt airline. The Wadia Group airline had stopped flying in May 2023 when it filed a voluntary plea for insolvency. Attempts to revive it under India’s bankruptcy laws did not materialise and lenders had sought to liquidate the company’s assets in last Aug. GoAir owes over Rs 6,521 crore to creditors, including Central Bank of India, Bank of Baroda, IDBI Bank and Deutsche Bank.
Allowing the committee of creditors’ application for Go First’s liquidation, A NCLT comprising judicial member Mahendra Khandelwal and technical member Sanjeev Ranjan bench directed that Shailendra Ajmera, the airline’s resolution professional, be relieved from that responsibility. Go First, which had started flying in 2005 around the same time as IndiGo and SpiceJet, flew for 18 years before it joined the long list of defunct Indian airlines that includes Air Deccan, Kingfisher and Jet Airways.
