The insolvency regulator’s expert committee suggests mediation at the pre-default stage to achieve quicker out-of-court resolutions, according to a report. This move aims to assist lenders and borrowers in reaching agreements without the need for insolvency proceedings.
The National Company Law Tribunal (NCLT) has provided a 60-day extension for the completion of the insolvency process of Go First airline. This decision will allow for more time to resolve the financial issues and find a suitable resolution for the company.
Creditors of Jet Airways raise concerns over the source of funds deposited by the Jalan-Kalrock Consortium, which do not align with the resolution plan. Additional Solicitor General N Venkataraman questions the possibility of money laundering. Lenders request time to file a reply. Consortium representative alleges lenders refuse Jet’s ownership transfer.
