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Accordingly, the Appu Hotels promoters filed an application under Section 12-A of the Insolvency and Bankruptcy Code and deposited ₹420 crore in cash and bank guarantee.
An Interim Resolution Professional (IRP) has been appointed by the NCLT to manage the affairs of Go First Airline under the Insolvency and Bankruptcy Code (IBC) but some lessors have challenged the tribunal’s ruling.
Source: https://indianexpress.com/article/india/go-first-haj-flights-indigo-8604607/