The plea, filed by Dinkar Venkatasubramanian, the airline’s liquidator, alleges that the MRO firm continues to hold back the components citing unpaid dues. While some of the assets belong to the airline, others belong to its lessors.
After a brief hearing on Thursday, the Delhi NCLT issued a notice to Air Works and sought its response to the plea.
“Let notice be issued to the respondents for filing their response and appearance. Notice be issued by all means and proof of service be filed. List the matter on 20 November,” the tribunal directed.
During the hearing, Diwakar Maheshwari, counsel for the liquidator, asked the tribunal to direct Air Works “to return the products and goods, which are lying in their custody illegally.”
“They are the maintenance office for these components, which are partly owned by me and partly by lessors in my capacity as liquidator. Their contention is that these components remain in their custody because payment has not been made. Now, the lessors are chasing me,” Maheshwari submitted before the tribunal.
However, the NCLT clarified that requests for disclosure or discovery of assets should ordinarily be made before a civil court. “Mr. Maheshwari, you are seeking the wrong direction. For discovery and inspection, you should approach the civil court,” the bench observed.
Bridgestone angle
This plea follows an earlier petition reported by Mint when, in July, Japanese tyre maker Bridgestone approached the NCLT seeking the release of 1,400 leased tyres that remained in Go First’s custody. Bridgestone told the tribunal that delays in retrieving the tyres were costing the company between $200 and $700 per tyre per month.
During Thursday’s hearing, Bridgestone’s counsel informed the tribunal that the company was now preparing to move a civil court to seek appointment of a receiver to take possession of the tyres.
“I will need to approach the honourable civil court as well to seek appointment of a receiver if the matter is tagged effectively here,” the counsel said.
The dispute dates back to 2019, when Go First entered into a five-year lease agreement with Bridgestone Hong Kong. After the Hong Kong operations shut down, the lease was transferred to Bridgestone’s Thailand subsidiary. By October 2024, the lease had expired, months before the airline was ordered into liquidation in January 2025.
Following the expiry, Bridgestone granted Go First a seven-month grace period to return the tyres. When the airline failed to do so, Bridgestone filed its petition before the NCLT in July 2025.
Mumbai-based Air Works India (Engineering) Pvt Ltd, founded in 1951, is among India’s oldest aviation MRO firms. It provides aircraft maintenance, painting, engineering, and asset management services to commercial airlines, business jets, and defence clients.
In December 2024, Adani Enterprises Ltd completed the acquisition of an 85.1% stake in Air Works through its wholly owned arm, Adani Defence Systems and Technologies Ltd, integrating the MRO company into its growing aviation services portfolio.
Several challenges
The ongoing MRO and lessor disputes are among several legal challenges surrounding Go First’s insolvency. The airline owes around ₹6,200 crore to creditors, including the Central Bank of India ( ₹1,934 crore), Bank of Baroda ( ₹1,744 crore), and IDBI Bank ( ₹75 crore).
Go First is also pursuing a $1 billion arbitration against engine maker Pratt & Whitney at the Singapore International Arbitration Centre (SIAC), alleging that faulty engines led to its collapse. The outcome of that case is seen as critical for lenders hoping to recover their dues.
The airline has remained grounded since 3 May 2023, when its promoter, the Wadia Group, filed for voluntary insolvency citing engine delivery delays. By then, the airline’s total liabilities had crossed ₹11,000 crore owed to banks, vendors, and aircraft lessors.
EY’s Shailendra Ajmera was initially appointed as resolution professional, but the process hit a major roadblock when lessors and engine makers sued to reclaim assets.
In April 2024, the Delhi High Court allowed aircraft lessors to repossess their planes, leaving Go First with no viable assets, ultimately leading to its liquidation in January 2025.
There was brief hope for a revival when SpiceJet’s Ajay Singh and EaseMyTrip’s Nishant Pitti submitted a joint ₹1,600 crore bid in February 2024, but the offer was withdrawn three months later, marking the end of any potential rescue.
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