Go First Insolvency: Lessors Cannot Take Possession of Aircraft, NCLAT Upholds NCLT’s Orders

NCLAT (National Company Law Appellate Tribunal) has upheld the decision of NCLT (National Company Law Tribunal) allowing insolvency proceedings of GoFirst; Directs certain modifications in the order of the Tribunal. The organization further directed the aircraft lessors to approach the NCLT for any remedy in GoFirst insolvency proceedings cases.