Settlement talks between Go First and Delhivery, NCLT issues notice

economictimes.indiatimes.com:

Delhivery and Go First have failed, the counsels for both parties informed the National Company Law Tribunal on Thursday. Go First's resolution professional at the last hearing claimed they were trying to settle the matter with Delhivery. The logistics provider had filed an application claiming that the voluntary insolvency petition filed by the beleaguered airline on May 2 was «malicious and fraudulent».

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.