Go First CoC appoints Shailendra Ajmera as resolution professional: Report

Crisis-hit Go First airlines on June 9 further extended the suspension of its flight operations till June 14

Go First Committee Of Creditors (CoC) appointed Shailendra Ajmera as resolution professional (RP) in the airline's insolvency case, CNBC TV-18 reported on June 9.

Ajemra is a Partner in Transaction Advisory Services at Ernst & Young and the lenders will seek NCLT's approval to make him the RP for Go First, the report stated.

At the time of admission of the insolvency plea, NCLT had named Abhilash Lal of Alvarez & Marsal as IRP of Go First.

Also Read | Go First extends suspension of flight operations till June 14

The cash-strapped airline has sought Rs 200 crore interim financing to restart operations, which is still under discussion.

On May 2, the Wadia group-owned airline requested voluntary insolvency resolution proceedings as well as an interim moratorium on financial obligations due to liabilities of Rs 11,463 crore. Out of this, bank dues are Rs 6,521 crore.

Central Bank of India, Deutsche Bank, Bank on Baroda and IDBI Bank are among the financial creditors to the company, according to the report.

Also Read | MC Exclusive: Go First's sole intent is to hijack insolvency process, Delhivery alleges in plea