Key Points
The insolvency court on Thursday directed the resolution professional of Go First airline to ensure maintenance of engines leased from SMBC Afro Engine Lease BV and Engine Lease Finance BV, allowing the engine lessors' request seeking a direction to protect their assets...
A bench of the National Company Law Tribunal (NCLT) also approved the appointment of Shailendra Ajmera of EY as the resolution professional (RP) for Go First...
The tribunal, though, rejected engine lessors' plea for inspection of their assets leased to the airline.. The engine and aircraft lessors have been demanding return of their assets, given cancellation of leases prior to the initiation of the corporate insolvency resolution process (CIRP)..
The court gave two weeks to the RP to reply to fresh applications filed by engine lessors SMBC Afro ELBV, Bluesky 19 Leasing Company, and Bluesky 31 Leasing Company for the return of assets...
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