Relief for Go Airlines as NCLAT upholds NCLT order | Azad Times

4 months ago 93
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Azad Times News Desk.

Chennai: The National Company Law Appellate Tribunal (NCLAT) on Monday upheld the NCLT’s order granting moratorium to the Wadia group’s Go Airlines (India) Ltd.

The NCLAT decided on the petitions filed by some lessors who had leased aircraft to Go Airlines. They had challenged the moratorium granted to Go Airlines by the NCLT.

The lessors’ contention was that the lease agreement with Go Airlines had ended before the NCLT admitted Go Airlines’ insolvency petition and hence, the airline has no right over the leased planes.

However, the aircraft lessors can file an appeal against the moratorium before the NCLT.

Read more:

AIBEA to Oppose Loan Write-offs for Go Airlines in Insolvency

Kerala: ‘IndiGo Airlines failed to protect passengers’ security’

Indigo Airlines files case against M’luru bomb-scare accused for hoax call

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Azad Times.

Disclaimer: This story is auto-aggregated by a Syndicated Feed and has not been created or edited By Azad Times Staff.

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