NEW DELHI: The National Company Law Tribunal (NCLT) on Thursday issued notice to Go First after settlement talks failed between the grounded airline and logistics company Delhivery. The tribunal has now sought a response from the Resolution Professional (RP) of Go First in two weeks. The case is likely to be heard on September 15.
The RP of Go First, which is currently going through Corporate Insolvency Resolution Process (CIRP), on July 24 had informed the NCLT that it is settling its dispute with the logistics company. Delhivery had earlier moved NCLT alleging that the initiation of CIRP was fraudulent and malicious.
It had said the airline received over Rs 1.58 crore from the logistics company for rendering domestic cargo consignment services. The money was paid as per the terms of an agreement that both companies entered into in 2020 and was last renewed in August 2022.
According to Delhivery, Go First received Rs 57 lakh on May 2, the day it filed for insolvency, despite being aware that it may not be able to render the services even in the future as Go First does not have an operable fleet in its own admission.
The NCLT on Thursday also issued notice to an application by aircraft lessor DAE (SY 22) 13 Ireland Designated Activity Company to be exempted from the moratorium. Go First, which has not flown since May 3, is facing multiple challenges to restart operations. The airline owes a little over `6,500 crore to financial creditors while its total liability stood at Rs 11,463 crore, including dues to banks, financial institutions, vendors, and aircraft lessors.