NCLAT to issue ruling on aircraft lessors' petitions on May 22 in Go First insolvency
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New Delhi: The petitions submitted by three aircraft lessors challenging Go First's voluntary insolvency resolution proceedings will be decided by the National Company Law Appellate Tribunal on May 22.
Following the conclusion of the three petitions' hearing, a two-member bench presided over by Justice Ashok Bhushan reserved its verdict.
The bench also asked the parties to submit additional documents, if any, in the next 48 hours.
The appellate tribunal was hearing a batch of petitions filed by SMBC Aviation Capital Ltd, GY Aviation and SFV Aircraft Holdings.
All three lessors have leased out around 21 aircraft to Go First.
So far this month, several lessors have approached aviation regulator DGCA for deregistration and repossession of Go First’s 45 planes.
Go First stopped flying from May 3.
Last week the Delhi-based principal bench of the NCLT appointed an interim resolution professional to look after the affairs of Go First and also suspended its board as part of the insolvency resolution process.
With PTI inputs