NCLAT dismisses plea by Go Airlines challenging withdrawal of insolvency proceedings against Sovika Aviation

Go Airlines had approached the NCLAT against an order of NCLT allowing a Section 12A application to withdraw the insolvency proceedings against Sovika based on a resolution of the Committee of Creditors.

NCLAT

The National Company Law Appellate Tribunal (NCLAT) last week rejected a plea by Go Airlines challenging an order of the National Company Law Tribunal (NCLT) Mumbai permitting withdrawal of insolvency proceedings against Sovika Aviation Services [Go Airlines (India) Ltd. v. Sovika Aviation Pvt Ltd & Ors].

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National Company Law Tribunal

National Company Law Appellate Tribunal

CIRP

Insolvency and Bankrupcy Code

Go Airlines

Sovika Aviation