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National Company Law Tribunal, Delhi to shortly commence hearing the application filed by Go Airlines seeking initiation of insolvency proceedings.
@GoFirstairways #GoAir
@GoFirstairways #GoAir
A division bench of Justice Ramalingam Sudhakar, President and technical member LN Gupta will hear the plea.
#goair #bankruptcy #NCLTDelhi
#goair #bankruptcy #NCLTDelhi
The President questions a reporter in court: You people report only where there is TRP. There are so many home buyers who come… Selective reporting.. Madam (court master) take down their numbers, we will call them when there is an important matter.
#goair #bankruptcy #NCLT
#goair #bankruptcy #NCLT
Court: Your part 3 does not show any financial default or NPA. but Part 4 says you owe loan of over 11000 crore.
There is no provision for interim moratorium.
Adv: There is a clear case of default, but we are not responsible for the default.
#goair #bankruptcy #NCLT
There is no provision for interim moratorium.
Adv: There is a clear case of default, but we are not responsible for the default.
#goair #bankruptcy #NCLT
Court: Basically what you are asking is a pre-emptive action, to stop creditors from asking for money. Maybe you have to pay for fuel, and pay to the airport terminals. But how is one IRP going to manage all this? this is a thought, not an opinion
#goair #bankruptcy #NCLT
#goair #bankruptcy #NCLT
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