Go First Insolvency Resolution Extended by NCLT

The National Company Law Tribunal (NCLT) has granted a 60-day extension to the Corporate Insolvency Resolution Process (CIRP) of grounded airline Go First. The extension comes after three parties expressed interest in taking over the carrier. The Resolution Professional (RP) informed NCLT that all three parties have submitted earnest money and are expected to submit their resolution plans by February 15. This marks the second extension for Go First since it entered insolvency proceedings in May 2023. If no resolution is found within the 330-day limit, liquidation may be imminent.