Airline moves NCLT to seek release of aircraft parts from Adani-owned Air Works
The plea filed by the airline’s liquidator Dinkar Venkatasubramanian alleges that the MRO firm continues to retain components citing unpaid dues. While some of the assets belong to the airline, some belong to the lessors.
After a brief hearing on Thursday, the Delhi NCLT issued notice to Air Works and sought response to the plea.
“Allow notice to be given to the respondents to file their reply and hearing. Notice must be published in every manner and proof of service must be produced. List the matter on November 20,” the court directed.
During the hearing, the liquidator’s lawyer Diwakar Maheshwari asked the court to order Air Works to “return the products and goods illegally detained”.
Maheshwari said before the court: “These are the maintenance office of these components which belong partly to me and partly to the lessors in my capacity as liquidator. Their claim is that these components remain in their custody due to non-payment. Now the lessors are pursuing me.”
However, NCLT clarified that requests for disclosure or discovery of assets must normally be made before a civil court. The bench said, “Mr. Maheshwari, you are looking in the wrong direction. You should approach the civil court for discovery and investigation.”
Bridgestone angle
This defense is a continuation of a previously reported petition. Mint In July, when Japanese tire maker Bridgestone approached the NCLT for the release of 1,400 rental tires remaining in Go First’s custody. Bridgestone told the court that delays in receiving the tires cost the company between $200 and $700 per tire per month.
During Thursday’s hearing, Bridgestone’s lawyer told the court that the company was now preparing to apply to civil court to appoint a receiver to take ownership of the tires.
“If the matter is effectively labeled here, I will also have to apply to the honorable civil court for the appointment of a receiver,” the lawyer said.
The dispute dates back to 2019, when Go First signed a five-year lease with Bridgestone Hong Kong. Following the closure of the Hong Kong operations, the lease was transferred to Bridgestone’s subsidiary in Thailand. As of October 2024, the lease had expired, months before the airline was ordered to be liquidated in January 2025.
After that period expired, Bridgestone gave Go First a seven-month grace period to return the tires. When the airline failed to do so, Bridgestone filed its petition with the NCLT in July 2025.
Founded in 1951, Mumbai-based Air Works India (Engineering) Pvt Ltd is among India’s oldest aviation MRO companies. It provides aircraft maintenance, painting, engineering and asset management services to commercial airlines, business jets and defense customers.
In December 2024, Adani Enterprises Ltd acquired an 85.1% stake in Air Works through its wholly owned arm Adani Defense Systems and Technologies Ltd, integrating the MRO company into its growing aviation services portfolio.
Various challenges
Ongoing MRO and lessor disputes are among several legal challenges surrounding Go First’s bankruptcy. The airline owes approx. ₹6,200 crore to creditors, including the Reserve Bank of India ( ₹1,934 crore), Bank of Baroda ( ₹1,744 crore) and IDBI Bank ( ₹75 crore).
Go First is also filing a $1 billion arbitration case at the Singapore International Arbitration Center (SIAC) against engine manufacturer Pratt & Whitney, alleging that defective engines led to the company’s collapse. The outcome of this case is seen as critical for lenders hoping to recover their debts.
The airline has been inactive since May 3, 2023, when its promoter Wadia Group filed for voluntary bankruptcy, citing engine delivery delays. By then the airline’s total liabilities had been exceeded ₹We owe ₹11,000 crore to banks, dealers and aircraft lessors.
EY’s Shailendra Ajmera was initially appointed as resolution expert, but the process hit a major roadblock when lessors and engine manufacturers sued to recover the assets.
In April 2024, the Delhi High Court allowed the aircraft lessors to take back their aircraft, leaving Go First with no viable assets and was ultimately liquidated in January 2025.
There was a brief hope for a revival when SpiceJet’s Ajay Singh and EaseMyTrip’s Nishant Pitti submitted a joint bid. ₹A bid of ₹ 1,600 crore was made in February 2024, but the bid was withdrawn three months later, spelling the end of any possible bailout.
