Justice Mahendra Khandelwal and technical member Rahul Prasad Bhatnagar have instructed the airline’s resolution professional (RP) and the lessors to approach the NCLT president to designate a new bench for this issue.
The bench highlighted that since the requests made by all involved parties were based on similar grounds, a fresh bench could determine the outcomes.
It’s pertinent to mention that since the initiation of Go First’s insolvency proceedings and the subsequent moratorium from May 10, two different benches have already deliberated on the case. The upcoming bench will be the third to review the matter.
To clarify, a moratorium is a designated timeframe during which most or specific legal actions against a debtor are halted. This period commences once a company is formally recognised as insolvent/bankrupt.
First Published: Oct 4 2023 | 8:45 PM IST