Go First Bankruptcy | NCLT to hear GoFirst’s insolvency resolution plea on May 4
New Delhi: The National Company Law Tribunal (NCLT) will hear on Thursday i.e. May 4, the voluntary insolvency resolution petition of the cash-strapped airline company Go First. The insolvency resolution petition of GoFirst was mentioned before a Delhi bench of the tribunal headed by Justice Ramalingam Sudhakar. While agreeing for urgent hearing on the matter, the bench directed to list it for Thursday. Wadia Group-owned airline GoFirst has filed an application for voluntary insolvency proceedings in the NCLT, Delhi. NCLT (National Company Law Tribunal) will hear the #GoFirst insolvency case on May 4. GoFirst has moved the NCLT Delhi seeking voluntary initiation of insolvency proceedings. pic.twitter.com/r5CuQhMK5u — ANI (@ANI) May 3, 2023 ALSO READ Section 10 of the Insolvency and Bankruptcy Code allows the borrower to initiate insolvency resolution process against himself. GoFirst is the second major airline to appeal for voluntary insolvency proceedings. Earlier, Jet Airways had also appealed for bankruptcy proceedings.