💨 Abstract

The National Company Law Tribunal (NCLT) has ordered the liquidation of budget airline Go First, which filed for voluntary insolvency in May 2023 due to financial woes. The Committee of Creditors, consisting of the airline's lenders, voted unanimously for liquidation. Go First, initially known as Go Air, had been operating for over 17 years before halting operations in May 2020.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖