Go First gets bankruptcy protection, IRP appointed

he New Delhi bench of the National Company Law Tribunal (NCLT) on Wednesday granted bankruptcy protection to Go First, giving the country’s third largest carrier a shot at survival. It has appointed Abhilash Lal of Alvarez & Marsal as the interim resolution professional to take over the management and board of Go First. It also directed the company’s suspended board to cooperate with Lal to ensure there are no employee layoffs. Go First, founded by textile tycoon Nusli Wadia, has 7,000 staff.