The counsels for both parties, Delhivery and Go First, informed the National Company Law Tribunal on Thursday that the settlement talks have failed.
The tribunal has now sought a response from the Resolution Professional (RP) of Go First in two weeks. The case is likely to be heard on September 15.
The RP of Go First, which is currently going through Corporate Insolvency Resolution Process (CIRP), on July 24 had informed the NCLT that it is settling its dispute with the logistics company. Delhivery had earlier moved NCLT alleging that the initiation of CIRP was fraudulent and malicious.
The counsel for Delhivery stated that there was a ten-week delay in filing of reply by Go First’s resolution professional despite the tribunal issuing notice and giving two weeks for counsel to reply.
While noting its order, the tribunal directed the counsel for Go First RP to file a reply within two weeks and gave another week for a rejoinder.
Delhivery, in its petition against Go First, had said that Go First had taken Rs 57 lakh from the logistics provider for future services on May 2; at the same time, it also filed a petition to admit the airline for voluntary insolvency under Section 10 of the Insolvency and Bankruptcy Code, 2016. The Wadia-group-owned airline owes Delhivery Rs 1.59 crore. Delhivery claims that the Rs 57 lakh was received in a “malafide manner”, as the airline was aware of its financial position since April 28.
While the airline has received conditional mod from civil aviation regulator Director General Civil Aviation to restart operations, it has been embroiled in petitions to resume operations.
On Thursday, another aircraft lessor DAE (SY22) filed an application challenging the voluntary insolvency filed by Go First under Section 65 of the Insolvency and Bankruptcy Code, 2016, terming the process as fraud and malicious.
The tribunal issued a notice in the matter and gave two weeks for the airline’s resolution professional to reply and a week to file a rejoinder. The tribunal asked the lessor to provide a copy of the reply to Go First’s RP.
The counsel for the aircraft lessor alleged that the insolvency petition was not in “good faith”.
Go First had filed a petition for voluntary insolvency claiming that the failure to get engines from Pratt and Whitney had grounded 28 planes, which was admitted on May 10.
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