Air Deccan founder GR Gopinath faces Personal Insolvency for loan default

The National Company Law Tribunal (NCLT) in Bengaluru has postponed its ruling on Captain GR Gopinath’s personal insolvency application under the Insolvency and Bankruptcy Code (IBC) 2016, which is associated with a ₹400 crore loan default by Deccan Cargo. 

Gopinath had given a personal guarantee for this loan. His Resolution Professional, Bhuvaneshwari, suggested that the plea be admitted, noting that no objections had been raised against the report.

The tribunal is set to reconvene on January 7, 2025, to decide on the case. 

The SBI initiated the insolvency proceedings in 2022 following the closure of Deccan Cargo in 2011.