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No definite timeline to resume operations: Go First

Go First has informed the Directorate General of Civil Aviation (DGCA) that they do not have a ‘definite timeline’ yet on the resumption of operations, have suspended operations on May 3.
Meanwhile, the suspended board of Go First on Tuesday filed caveats before the Supreme Court against four aircraft lessors of the crisis-hit airline.

Four caveats have been filed by Varun Berry, the Chairman of the suspended board of Go First through his counsel advocate Pranjal Kishore, as per the information available on the website of the Supreme Court of India.
The lessors are – SMBC Aviation Capital Ltd, GY Aviation, SFV Aircraft Holdings and Engine Leasing Finance BV (ELFC) – owning around 22 aeroplanes.

The caveat has been filed against the order passed by the National Company Law Appellate Tribunal on Monday, which upheld the order passed by the Delhi bench of the NCLT on 10 May.
The National Company Law Appellate Tribunal (NCLAT) on Monday upheld insolvency resolution proceedings against crisis-hit airline Go First, derailing aircraft lessors’ efforts to take back their planes from the struggling Wadia group firm.

In its order, NCLAT had directed the lessors to approach NCLT regarding the claim of possession and other respective claims relating to the aircraft whose leases were terminated by the lessors after the company filed for insolvency process. (Source: Mint)


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