India Bankruptcy Court Orders Liquidation of Defunct Go Air

The National Company Law Tribunal has ordered liquidation of budget carrier Go Airlines India, said Diwakar Maheshwari, a lawyer representing the resolution professional in the case.

• The insolvency court ordered liquidation of Go Airlines, which operates under Go First brand, following a petition filed by the company’s lenders’ panel
  • A detailed order from the NCLT is awaited
• NOTE: Under Indian insolvency law, the court orders liquidation if reviving the business is not feasible through the resolution process
• NOTE: India’s Go First Moves Closer to Collapse as Planes Deregistered
• NOTE: Another Billionaire-Backed Indian Airline Is on Verge of Failure

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