Go First lenders select EY-backed Ajmera as RP

Bankers have selected EY-backed Shailendra Ajmera as the resolution professional for Go Airlines (India), which operates ultra-low-cost airline Go First.

Ajmera's selection is subject to approval from the National Company Law Tribunal (NCLT).

The selection was communicated at a meeting of the committee of creditors of Go First on Friday.


If approved by NCLT, Ajmera will replace an interim resolution professional who is currently running the company and was originally recommended by Go First's former management, according to sources aware of the matter.

Go First's bankers had invited applications from multiple firms such as the Big Four audit firms -EY, KPMG, Deloitte and PWC - for the resolution professional's role, ET had first reported on May 24.

Grant Thornton and Alvarez & Marsal were also interviewed as part of the selection process run by Go First's bankers.

Abhilash Lal, an interim resolution professional who is currently administering the company's affairs, will no longer be in charge. Lal is associated with Alvarez & Marsal.

EY did not respond to requests for comment until press time Friday The race for bagging the resolution professional's role was said to be tight with KPMG and Grant Thornton also making impactful presentations to the airline's bankers.