NCLT gives 4th extension of 60 days to Go First to complete insolvency

The National Company Law Tribunal (NCLT) has granted an extension of 60 days to the grounded air carrier Go First for completing the insolvency process.

This is the fourth extension for Go First to complete the Corporate Insolvency Resolution Process (CIRP), which is struggling to find a buyer.

Earlier, the insolvency tribunal had granted an extension of 60 days on April 8, which ended on June 3, 2024.

Following this latest extension, the CIRP of GO First will come to an end on August 3, 2024.

While granting the extension, the Delhi-based NCLT bench said: "This is the final extension".

The two-member bench also came down heavily on the Resolution Professional for seeking an extension.

Counsel appearing for the RP informed the tribunal that they were seeking this extension owing to an extraordinary situation post the Delhi High Court judgment asking DGCA to deregister all of its 54 aircraft.

According to the RP, those who have shown interest in buying the airline have revised the