NCLT Seeks Report As Lessors Allege Missing Components In Go First Leased Aircraft

The National Company Law Tribunal has issued a directive to the Resolution Professional overseeing the defunct airline Go First to submit a detailed report regarding the maintenance of leased aircraft and engines on Friday.

It was submitted by a Go First lessor before the NCLT that certain components of the leased aircraft have disappeared.

The lessor said that they had conducted an inspection prior to the airline's insolvency proceedings and had recently conducted another inspection, during which they discovered the absence of some crucial parts. Consequently, the lessor informed the tribunal that the RP was not adhering to NCLT's previous instructions regarding the maintenance of the aircraft and engines.

It is to be noted that in the recent past, the National Company Law Appellate Tribunal had also allowed the lessors, Jackson Square Aviation and Engine Lease Finance BV, to inspect their leased aircraft present with the grounded airline. 

In today's hearing, the lessors submitted that the value of their aircraft is worth millions of dollars, and if the disappearance of components continues, it would cause them to incur huge losses.

Another development in the course of proceedings was that the Committee of Creditors moved an application to separately make submissions on pleas that have been raised by the lessors.

However, the NCLT bench raised questions over the move and said that the RP is already supposed to be acting on behalf of the lenders, so what conditions could have caused the lenders to move an application to proceed separately?

The case has now been listed for Sept. 12.