New Delhi: Cash-strapped airline Go First appointed Shailendra Ajmera as its Insolvency Resolution Professional during the times of the airline’s ongoing insolvency case. The decision was adopted by the Go First’s Committee of Creditors (COC).
Shailendra Ajmera is also a partner at Transaction Advisory Services at Ernst and Young (EY). Moreover, the lenders will be looking for the National Company Law Tribunal’s approval to make Ajmera the RP of the airline, CNBC in a report stated.
At first, NCLT had appointed Abhilasha Lal as IRP for the beleaguered airline company after admitting its insolvency plea.
According to the PTI report, spokespersons from all four banks- Bank of Baroda, Central Bank of India, IDBI and Deutsche Bank paid a visit to the Go First office on Friday and after the meeting, they set up the CoC.
Insolvency declaration
Go First Airline on May 2, filed for voluntary insolvency resolution proceedings and interim moratorium due to financial liabilities of 11,463 crore.
A source close to the matter revealed that a new resolution professional be appointed by June 12.
Previously this week, the tribunal has asked the present IRP to file a reply within just one week for the petitions filed by the three lessors: BOC Aviation (Ireland), Jackson Square Aviation Ireland and Engine Lease Finance BV wanting possession of the aircraft and engines
