New Liquidator Suggested for Go First

Go First’s Liquidator

The Delhi bench of the National Company Law Tribunal (NCLT), which handles matters related to Indian companies, has been asked to appoint Dinkar Venkatasubramanian as Go First’s liquidator.

During a hearing on November 28, the counsel for the resolution professional—who serves as the local equivalent of an insolvency administrator—requested that the court appoint Venkatasubramanian, a partner at Ernst & Young in Delhi, to this role. 

Resolution professional Shailendra Ajmera had previously requested permission from the National Company Law Tribunal (NCLT) to take on the role of liquidator. However, in October, the specialized bankruptcy court denied his request, stating that he could not hold both positions simultaneously. Like Venkatasubramanian, Ajmera is also a partner at Ernst & Young’s India office.

Go First suspended its flights in May 2023, and the airline’s administrator later accepted creditor claims totalling INR 65.21 billion (approximately USD771 million). Several proposals to restart the airline were ultimately unsuccessful.

In August, the committee of creditors voted to liquidate the airline after potential offers to purchase it fell short of expectations. The proceedings to begin liquidating Go First started in the NCLT in early September. The matter is scheduled to return to the tribunal on December 6.