Wednesday, July 12, 2023

DGCA Analysing Special Audit Report Of Go First

The Directorate General of Civil Aviation (DGCA) is reportedly analysing the special audit details of Go First, which is undergoing an insolvency resolution, according to a media report on Tuesday. 

Go First, known to be in aviation for more than 17 years, stopped its operations on 3 May.

The special audit is to check the operational readiness of Go First. The audit was conducted from 4 to 6 July that covered the facilities of the carrier in Mumbai and Delhi.

Meanwhile, Go First and aircraft lessors are involved in a legal tussle before the Delhi High Court.

Reports mentioned that the High Court's ruling in this regard would also play a key role in terms of the proceedings under the Insolvency and Bankruptcy Code (IBC).

After taking into consideration the audit findings and other factors, the DGCA will decide its approval on Go First's revival plan, the report added additionally.

It said Go First's Resolution Professional Shailendra Ajmera has invited potential bidders for the Expressions of Interest (EoIs).

12/07/2023 Business World

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