Relief for Go First as NCLAT upholds moratorium decision, lessors fume

In a major relief for Go First, the National Company Law Appellate Tribunal (NCLAT) upheld the National Company Law Tribunal (NCLT order granting a moratorium to the airline and refusing to allow lessors to take back possession of aircraft. The NCLAT passed the order on petitions filed by three aircraft lessors against Go First’s voluntary insolvency resolution proceedings. All three lessors have leased out around 21 aircraft to Go First. The airline has liabilities worth INR 114.63 and has sought voluntary insolvency resolution proceedings as well as an interim moratorium on its financial obligations. On May 10, the principal bench