Go First has requested permission from the National Company Law Tribunal (NCLT) to refund money to customers who purchased tickets for travel on and after May 3, the day the airline suspended operations.
A new application has been submitted to the Delhi bench of the NCLT by the Resolution professional of Go First, asking for permission “to permit the applicant/CD to make payment of refund to passengers of the CD whose airline tickets have been cancelled since May 3, 2023.”
In this context, the terms “applicant” and “CD” stand for “corporate debtor” or “Go First.”
Mahendra Khandelwal and Rahul P. Bhatnagar, two members of the NCLT bench, are scheduled to hear the application today.
This would be a huge relief for those airline passengers whose money is still with Go First as a result of the start of the Corporate Insolvency Resolution Process (CIRP) against the airline, should the insolvency tribunal approve.
Source- Travel biz