Section 14 (1) of the IBC 2016 deals with moratorium that a court can order to protect a corporate debtor undergoing either insolvency or bankruptcy, including recovery of any property by an owner or lessor in the possession of the debtor.
Go First lessor Gets NCLAT Nod To Inspect Planes: Report outlookindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from outlookindia.com Daily Mail and Mail on Sunday newspapers.
This decision modified the NCLT’s 26 July order, which permitted Go First to use the leased aircraft, and noted that it does not approve the part of the NCLT order that restrained the lessor from inspecting the engines.
A senior executive of Go First said around 150 employees which includes 30 pilots and 50 cabin crew members are planning to resign in the next two weeks.
The report said employee confidence has been hit as SC refused to entertain Go First's plea against HC order permitting lessors to inspect, maintain leased aircraft