 "Go First case: New NCLT bench to hear petitions of airline, lessors")
The National Company Law Tribunal (NCLT) said on Monday a new bench of the tribunal will hear pleas filed by grounded airline Go First and aircraft and engine lessors, according to The Economic Times (ET).
The NCLT bench had on October 4 asked its registry to list the matter before the tribunal president for clarification, while hearing applications filed by 10 lessors in the Go First case. In two other applications filed by logistics provider Delhivery and aircraft lessor DAE (SY22) 13 Ireland Designated Activity Company, the bench stated that the tribunal president had transferred the case to a new bench from the prior bench.
The NCLT granted DAE's request for more time to file a rejoinder in its appeal against Go First. The hearing has been rescheduled to October 30. The NCLT bench asked the counsel for Go First's resolution professional to work with the registry to get their reply on record in the Delhivery case. The hearing has been rescheduled to October 30. Both the firms had filed an application claiming that the voluntary insolvency filed by the Wadia-group-owned airline was “not in good faith”.
Delhivery approached the National Company Law Tribunal (NCLT) in June, alleging that the besieged airline Go First took a Rs 57 lakh advance from the logistics provider on the same day that it filed for voluntary insolvency.
Go First was grounded on May 3.
In July, the earlier bench refused to restrain Go First from flying its aircraft in an interim order related to a plea filed by seven aircraft and engine lessors. Because of a reshuffle, the bench was unable to hear other appeals filed by 10 lessors.
In September, Aviation Working Group (AWG), a global aviation leasing watchdog, cut India's compliance rating with international leasing laws and kept the country on a watchlist with a negative outlook amid the dispute between Go First and its aircraft lessors.