-
June 08, 2023 06:16 PM IST The tribunal had on May 17 asked the Gurugram-based airline to file a response to the lessor’s insolvency plea and explore options for settlement
-
June 09, 2023 09:18 AM IST The plea, which Moneycontrol has reviewed, notes that Go First received Rs 57 lakh on May 2, the day it filed for insolvency, despite being aware that it may not be able to render the services even in the future as Go First does not have operable fleet in its own admission.
- June 07, 2023 04:35 PM IST
The low-cost carrier blamed US engine maker Pratt & Whitney for the grounding of half of its fleet, which led to reduced income and ultimately to insolvency.
- June 05, 2023 07:57 PM IST
Sources revealed to Moneycontrol that the parties have resolved the dispute, as a result of which the application for withdrawal has been filed. The application is likely to come up for consideration in July 2023.
- June 05, 2023 06:50 PM IST
On May 22, the NCLAT granted liberty to the aircraft lessors to move NCLT to ascertain the status of their aircraft pursuant to the moratorium.
- June 03, 2023 12:55 PM IST
While BOC Aviation filed an application earlier this week, lessors such as Jackson Square Aviation Ireland Limited and Engine Lease Finance BV have filed fresh pleas in NCLT
- June 02, 2023 08:24 PM IST
The cases related to arbitration, contempt of court and insolvency can have serious consequences on the airline’s finances and ability to continue operations.
- May 31, 2023 09:42 AM IST
DHL had filed the insolvency plea in 2022, claiming that Eicher had not paid dues worth Rs. 8.3 crore in accordance to the terms of the service agreement the two parties entered into in August 2019, regarding warehouse for storing certain goods.
- May 30, 2023 05:20 PM IST
King's Counsel Harish Salve, representing the IRP, argued that the aircraft lessors have initiated 'parallel proceedings' despite clear directive from the NCLAT asking them to approach the National Company Law Tribunal (NCLT) on the status of aircrafts where leases were terminated prior to the moratorium.
- May 28, 2023 09:05 AM IST
On May 22, the NCLAT granted liberty to the aircraft lessors to move NCLT to ascertain the status of their aircraft pursuant to the moratorium
- May 25, 2023 07:33 PM IST
Earlier this month, Sebi had issued an adverse interim ruling against an entity of the Essel Group that founded Zee, which led to the NCLT asking the stock exchanges to reassess and validate the non-compete clause in the merger
- May 25, 2023 03:24 PM IST
On May 17, the tribunal has asked the airline to file a response to the lessor’s insolvency plea and explore options for a settlement
- May 25, 2023 05:53 PM IST
So far this month, several lessors have approached aviation regulator DGCA for deregistration and repossession of Go First's 45 planes.
- May 24, 2023 08:19 PM IST
The appellate tribunal directed Accipiter Investments Aircraft 2, Eos Aviation 12 (Ireland) and ACG Aircraft Leasing Ireland to go to NCLT over the applicability of the moratorium on their aircraft.
- May 24, 2023 07:36 PM IST
The DGCA will be conducting an audit to "check our preparedness" in the coming days, the airline said, adding that "once approved by the regulator, we would be soon commencing operations".
- May 24, 2023 01:21 PM IST
Lanco Solar was ordered to undergo insolvency proceedings following an application filed by lender Andhra Bank in June 2019.
- May 24, 2023 10:46 AM IST
On May 22, the NCLAT upheld the National Company Law Tribunal (NCLT) order on the airline's insolvency. The lessors were asked to move an appropriate application at the NCLT regarding the question of possession of aircraft.
- May 23, 2023 08:10 PM IST
A total of four caveats have been filed against lessors such as GY Aviation Lease, Engine Leasing Finance, SMBC Aviation and SFV Aircraft Holdings.
- May 23, 2023 06:49 PM IST
They also acknowledged that the existing framework needs to be refined to protect the interests of all stakeholders while ensuring timely and effective resolution of insolvency cases.
- May 23, 2023 07:41 AM IST
The case will now be heard by a division bench led by judicial member HV Subba Rao and technical member Madhu Sinha on June 16.
- May 22, 2023 08:19 PM IST
How justified is a legal process, which, while proceeding towards resolution of an issue of one corporate entity, creates complications for others?
- May 22, 2023 10:42 PM IST
News Updates Today : Assam CM also said that they will rope in ex-military personnel to train the state's police force
- May 19, 2023 10:46 PM IST
Section 10A mandates no application for initiation of corporate insolvency resolution process (CIRP) can be filed against any debtor by any financial and operational creditor for any default arising on or after March 25, 2020, for a period of one year.
- May 19, 2023 07:44 PM IST
The airline’s plans hinge on whether aircraft lessors will be allowed to take back their planes.
- May 19, 2023 03:41 PM IST
Lessors Wilmington Trust SP Services, Sabarmati Aviation Leasing and Falgu Aviation Leasing had approached the DGCA to deregister Boeing 737-800s over non-payment of dues
