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

07 Oct 2025

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..