Go's suspended board files caveats against lessors

New Delhi: The suspended board members of Go First, led by its chairman Varun Berry, on Tuesday, filed caveat petitions in the Supreme Court against four aircraft lessors of the crisis-hit airline. Four caveats have been filed through counsel Pranjal Kishore against aircraft lessors SMBC Aviation Capital, GY Aviation, SFV Aircraft Holdings and Engine Leasing Finance BV.

A caveat application is filed by a party to a dispute as a precautionary measure to ensure that no orders are passed by the court without hearing the applicants.

The caveats have been filed following the National Company Law Appellate Tribunal's (NCLAT) Monday order that upheld the National Company Law Tribunal (NCLT)'s May 10 verdict admitting Go First's petition to initiate voluntary insolvency resolution proceedings. The tribunal had appointed an interim resolution professional after suspending the company's board.


The aircraft lessors are opposing the insolvency proceedings against Go First and are seeking repossession of their aircraft whose leases have been terminated prior to the initiation of insolvency proceedings. Several lessors have approached aviation regulator DGCA for deregistration and repossession of Go First's 45 planes.