Key Points
The National Company Law Tribunal (NCLT) Thursday accepted Delhivery's notice seeking declaration of Go First's voluntary insolvency resolution as "fraudulent and malicious.".
"Go First received 57 lakh on May 2 from Delhivery as advance for future services, knowing fully well they were filing for insolvency," said the counsel for Delhivery..
Counsel for the IRP asked the court to also implead the former management but the bench directed the resolution professional to file a reply in the matter and listed it for July 24..
Go First, in its voluntary insolvency resolution application filed under Section 10 of the IBC, had stated that it could no longer meet its financial obligations, blaming US company Pratt & Whitney's "faulty engines" for grounding 50% of its fleet..
Earlier this week, aircraft lessor Jackson Square Aviation Ireland Ltd and lessor of engines Engine Lease Finance (ELF) BV had filed applications in the Go First matter, claiming that they had terminated contracts with Go First on May 3, prior to the acceptance of Go First's Section 10 application on May 10..
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