Go First resolution professional in settlement talks with Delhivery

economictimes.indiatimes.com:

Delhivery, which has challenged the beleaguered airline's voluntary insolvency, its counsel informed the National Company Law Tribunal (NCLT) on Monday. «We are looking at settling with them,» the counsel submitted before the NCLT, while seeking more time to complete the talks.

Logistics provider Delhivery had last month filed an application seeking declaration of Go First's voluntary insolvency as «fraudulent and malicious» as it had taken an advance payment of Rs 57 lakh for future services on May 2. Go First owes Delhivery Rs 1.59 crore, of which ₹57 lakh Delhivery claims was received in a «mala fide manner».

The petition by Delhivery states that the airline failed to inform Delhivery that it was struggling financially. The airline was aware of its financial position on April 28 and yet took an advance from Delhivery.

The tribunal will now hear the matter on August 17. The airline, last week, received a conditional nod from the civil aviation regulator Directorate General of Civil Aviation (DGCA) to resume operations.