Go First: Legal experts say can withdraw proposal till CoC is formed, as CEO insists ‘promoters committed’
The NCLT move is viewed as the current promoters' inability to run the company. However, Khona has stated that they did not file for bankruptcy but for a 'resolution process' and to ‘protect our assets’
New Delhi/Mumbai: The decision of low-frills airline Go First to move to the National Company Law Tribunal (NCLT) on Tuesday has two unique characteristics. One, it's the first large conglomerate to move the bankruptcy court, and the other is that the airline's CEO, Kaushik Khona, insisted that the promoters remain committed.