The National Company Law Tribunal (NCLT) has issued a notice to the Interim Resolution Professional (IRP) of Go First, a crisis-hit airline, in response to a plea filed by supply chain company Delhivery.
Delhivery has accused Go First of conducting a fraudulent insolvency process and claimed that the airline accepted payments of Rs 57 lakh from Delhivery on the same day it filed for insolvency, May 2. The NCLT has instructed the IRP to file a reply within two weeks regarding the allegations made by Delhivery.
The National Company Law Tribunal (NCLT), an insolvency tribunal, has issued a notice to the Interim Resolution Professional of Go First, a crisis-hit airline, in response to a plea filed by supply chain company Delhivery.
Delhivery has alleged that Go First’s insolvency process is fraudulent and claimed that the airline accepted payments of Rs 57 lakh from Delhivery on May 2, the same day it filed for insolvency.
Furthermore, it argues that Go First knowingly accepted payments despite being aware of its intention to file for voluntary insolvency before the NCLT. A two-member bench of the NCLT has directed the IRP to submit a reply within two weeks and scheduled the next hearing for July 24.
Currently, Go First is undergoing the Corporate Insolvency Resolution Process (CIRP). On May 10, the NCLT accepted Go First’s plea to initiate voluntary insolvency resolution proceedings and appointed Abhilash Lal of Alvarez & Marsal as the IRP for the airline.
Delhivery has requested the tribunal to allow it to intervene in the company petition, alleging that the initiation of CIRP was “fraudulent and malicious”.
In addition, three lessors, namely BOC Aviation (Ireland), Jackson Square Aviation Ireland, and Engine Lease Finance BV, have filed petitions seeking possession of their aircraft and engines. They argue that they terminated their leases before the airline’s insolvency plea was admitted.
The NCLT has directed the IRP of Go First to file a reply within one week in response to these petitions.
