Question
Who has been designated as the interim resolution
professional (IRP) for Go First during the insolvency resolution process?Solution
The National Company Law Tribunal admitted Go First’s voluntary plea in order to begin the insolvency resolution process. Two-member bench including President Justice Ramalingam Sudhakar and L N Gupta further designated Abhliash Lal as interim resolution professional (IRP) to administer the debt-ridden company. It has positioned the company under the protection of a moratorium and directed the suspended board of directors to assist the IRP to run the company during insolvency proceedings. About The National Company Law Tribunal The Central Government has constituted National Company Law Tribunal (NCLT) under section 408 of the Companies Act, 2013 (18 of 2013) w.e.f. 01st June 2016.
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