Go First crisis: Go First owes a total of $780.88 million to its creditors that include Central Bank of India, Bank of Baroda, IDBI Bank and Deutsche Bank.
Go First resolution process: The airline's resolution professional had sought an extension of the deadline to complete the corporate insolvency resolution process (CIRP).
"Among the creditors, a large public sector bank which is a key creditor wants more time since the approval to extend the process needs to be ratified by its board. So voting lines are still open for everyone, though some of the creditors have already voted," said a person aware of the process.
Lenders are looking to discuss a proposal to liquidate Go First, a proposal to choose a firm to evaluate its remaining assets, and another proposal to evaluate potential buyers interested in the airline’s assets.
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