Go First creditors to auction 94-acre Thane land parcel

21 May 2024 CW Team

Creditors of Go First (formerly known as GoAir) have decided to auction a substantial 94-acre land parcel located in Thane. This decision comes as part of efforts to recover dues from the airline amidst financial restructuring. The auction, facilitated by the creditors, aims to attract bids from potential buyers interested in acquiring prime real estate in the Thane region.

The land parcel, strategically located, holds significant value in the real estate market, making it a coveted asset for potential investors and developers. The auction process is expected to be closely monitored by stakeholders as it unfolds, with the outcome influencing the airline's financial restructuring and creditors' efforts to recover debts.

Go First's creditors have been actively pursuing various avenues to recover outstanding dues, including the sale of assets like the Thane land parcel. The airline industry, particularly hit by the COVID-19 pandemic, has seen several carriers resorting to asset sales and restructuring to navigate financial challenges and ensure operational sustainability.

As the auction progresses, the focus will be on maximising value for creditors while ensuring transparency and compliance with regulatory requirements. The outcome of the auction will play a crucial role in determining the financial future of Go First and the extent to which creditors can recover their investments.

Infrastructure Urban

27 Oct 2025

Coal Ministry Achieves Milestones under Special Campaign 5.0

The Ministry of Coal and its Public Sector Undertakings (PSUs) have achieved notable milestones under the Special Campaign 5.0, focusing on cleanliness, operational efficiency, and sustainability across the coal sector. During the implementation phase from 2–31 October 2025, over 1,205 sites were cleaned, covering 68,04,087 sq ft, nearing the target of 82,51,511 sq ft. Scrap disposal of 5,813 MT against a target of 8,678 MT generated Rs 228.7 million in revenue. In addition, 1,11,248 physical and 30,331 electronic files were reviewed, with 74,123 weeded out or closed. Key initiatives showc..

Vesting Orders Issued for Three Coal Blocks under Commercial Auctions

The Ministry of Coal’s Nominated Authority has issued vesting orders for three coal blocks under commercial coal block auctions on 23 October 2025. The Coal Mine Development and Production Agreements (CMDPAs) for these mines were earlier signed on 21 August 2025. The three blocks include Rajgamar Dipside (Deavnara), Tangardihi North, and Mahuagarhi. Of these, two are partially explored while one is fully explored, with a combined peak rated capacity of around 1 MTPA and geological reserves of approximately 1,484.41 million tonnes. These mines are expected to generate annual revenue of abou..

TEC, IIT-Hyderabad Partner to Boost 6G and Telecom Standards

The Telecommunication Engineering Centre (TEC), technical arm of the Department of Telecommunications (DoT), has signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology Hyderabad (IIT Hyderabad) for joint research and technical collaboration in advanced telecom technologies and standardisation. The partnership focuses on developing India-specific standards and test frameworks for next-generation networks, including 6G, Artificial Intelligence (AI), and Non-Terrestrial Networks (NTNs). It also aims to enhance India’s participation in international standardisation f..