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Go First CEO Calls Company Law Tribunal Order "Landmark, Historic"Go First CEO Kaushik Khona today described the NCLT's decision to admit the airline's plea for voluntary insolvency resolution proceedings as a "landmark judgement" that is very timely and effective for its revival.
The National Company Law Tribunal (NCLT) has appointed Abhliash Lal as interim resolution professional (IRP) to run the debt-ridden company.
Besides, the tribunal has imposed a moratorium on the company and has suspended its board of directors.
This is a historic and landmark judgement. It is also a perfect example "in the context of revival of a viable business before it becomes unviable," Mr Khona told Press Trust of India over phone.
He also said the order is very timely and effective.
Cash-starved Go First had filed for the voluntary insolvency resolution proceedings on May 2.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
The National Company Law Tribunal (NCLT) has appointed Abhliash Lal as interim resolution professional (IRP) to run the debt-ridden company.
Besides, the tribunal has imposed a moratorium on the company and has suspended its board of directors.
This is a historic and landmark judgement. It is also a perfect example "in the context of revival of a viable business before it becomes unviable," Mr Khona told Press Trust of India over phone.
He also said the order is very timely and effective.
Cash-starved Go First had filed for the voluntary insolvency resolution proceedings on May 2.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)