New Delhi: Indian banks such as Bank of Baroda, IDBI Bank and Axis Bank are among the financial creditors whom Go First, which filed for bankruptcy on Tuesday, owes Rs 6,521 crore.
According to the bankruptcy filing by Go First, banks such as Central Bank of India and Deutsche Bank are also among Go First's financial creditors.
Central Bank of India's shares plunged in early trade on Wednesday, while Bank of Baroda, IDBI Bank and Axis Bank were down 2.5%, 1.1% and 1.9%, respectively.
The embattled airline had not defaulted on any of these dues as of the end of April, Go First said in the filing.
"However, considering the present financial situation of the corporate applicant, defaults to financial creditors would be imminent," the filing said.
Go First has defaulted on payments to operational creditors. These include Rs 1,202 crore to vendors and Rs 2,660 crore to aircraft lessors. The airline, suffering cash crunch, had also received notices from lessors for termination of aircraft lease agreements and some have started actions against the company to ground or repossess aircraft, the filing said.
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