Key Points
Go Airlines (India) Ltd has received claims worth Rs 24,000 crore ($2.9 billion) from operational and financial creditors so far as part of the carrier's ongoing insolvency, two banking sources told Reuters...
The process is in line with procedural requirements under Indian law which allow every creditor a right to payment and remedy by submitting claims if a company is under bankruptcy..
Once the claims are filed, the resolution professional has to check its authenticity...
"Claims from the lenders are around Rs 5000 crore, while lessors' claims amount to Rs 180 crore so far," a banker with a state-run bank, who has exposure to Go Airlines said, after a meeting of the committee of creditors on Friday...
"The airline has received 40 queries on EOIs from potential bidders, but no formal submissions have been made as yet," the second banker said.. India's aviation regulator on Friday said Go Airlines could resume operations if it can meet certain conditions, including getting interim funding and approval of its flight schedule...
