NCLT defers order on liquidation of Go First after queries raised over liquidator, third party funding

The National Company Law Tribunal (NCLT) deferred its order on the liquidation of Go First airlines due to legal questions about the liquidator’s role and third-party funding for arbitration at the Singapore International Arbitration Centre (SIAC). The tribunal, comprising Judicial Member Mahendra Khandelwal and Technical Member Dr. Sanjeev Ranjan, questioned whether a company under liquidation could obtain third-party funding. The tribunal also noted a circular from the Insolvency and Bankruptcy Board of India (IBBI) recommending that a person other than the Resolution Professional (RP) be appointed as the liquidator. The case is set for further hearing on November 8, 20244.