Jet Airways lands in NCLT as banks give up on revival
5 years, 9 months ago

Jet Airways lands in NCLT as banks give up on revival

Deccan Chronicle  

Mumbai: A consortium of banks led by the State Bank of India has referred the debt-laden Jet Airways to the National Company Law Tribunal for bankruptcy proceedings after negotiations with Etihad Airways and Hinduja Group did not fructify. "After due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a conditional bid was received," the SBI said in a statement. Etihad and the Hinduja Group, the two interested bidders, were demanding over 85 per cent haircut on Jet Airways' debt, which was unacceptable to lenders, according to media reports. Jet Air owes Rs 8,400 crore to the consortium of banks, which now runs the airline, while it has a much larger debt pile of accumulated losses of Rs 13,000 crore, besides vendor dues of over Rs 10,000 crore and salary dues of over Rs 3,000 crore.

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History of this topic

Ex-pilots file insolvency plea against SpiceJet over ₹3 crore in unpaid dues
1 month, 2 weeks ago

Ex-pilots file insolvency plea against SpiceJet over ₹3 crore in unpaid dues

Live Mint  

Two former pilots of SpiceJet Ltd have approached the Delhi bench of the National Company Law Tribunal, seeking to declare the airline bankrupt over unpaid dues totalling ₹3 crore. The petition, alleging that the no-frills airline failed to pay salary arrears, deferred payments, final settlements, allowances, and overtime dues, adds to SpiceJet's ongoing litigations in the NCLT, the Delhi high …

NCLT orders Go First liquidation
2 months ago

NCLT orders Go First liquidation

The Hindu  

The National Company Law Tribunal on Monday ordered the liquidation of budget air carrier Go First Airways two years after it shut flight operations and approached the court seeking voluntary insolvency. A bench of NCLT comprising Judicial Member Mahendra Khandelwal and Technical Member Dr. Sanjeev Ranjan allowed an application for liquidation filed by the Committee of Creditors of Go First. …

NCLT orders liquidation of Go First airline
2 months ago

NCLT orders liquidation of Go First airline

The Hindu  

The National Company Law Tribunal has ordered the liquidation of Go First Airways after a request from the cash-strapped airline's lenders. In August, Go First's lenders had decided to liquidate the company's assets after rejecting bids by interested suitors to revive the bankrupt airline, Reuters had reported, citing sources. Go First had filed for bankruptcy in May last year and …

Jet Airways liquidation: Why India needs a new regime to save airlines
4 months, 1 week ago

Jet Airways liquidation: Why India needs a new regime to save airlines

Live Mint  

Learning by doing is about the only way to master swimming, cycling or yoga, but does it apply to harnessing India’s Insolvency and Bankruptcy Code as well, particularly in the case of airlines? After Go Air, it is now Jet Airways’s turn to go into liquidation after an insolvency resolution process under IBC failed to sell the business as a …

Jet Airways' 1.43 lakh retail shareholders stare at wipeout after Supreme Court liquidation order
4 months, 1 week ago

Jet Airways' 1.43 lakh retail shareholders stare at wipeout after Supreme Court liquidation order

Hindustan Times  

The 1.43 lakh retail shareholders of Jet Airways are now staring at a complete wipeout of their investments after the Supreme Court ordered the troubled airline's liquidation on Thursday, November 8, rejecting the Jalan Kalrock consortium’s takeover bid. Naresh Goyal, chairman of Jet Airways According to exchange data, retail investors currently own 19.29% of Jet Airways Ltd shares. This amounts …

Supreme Court orders liquidation of Jet Airways, sets aside NCLAT order
Trending News
4 months, 1 week ago

Supreme Court orders liquidation of Jet Airways, sets aside NCLAT order

Firstpost  

Setting aside an order of the NCLAT, the Supreme Court has ordered the liquidation of Jet Airways Supreme Court has ordered the liquidation of Jet Airways. The Supreme Court on Thursday exercised its extraordinary constitutional powers and ordered the liquidation of grounded air carrier Jet Airways’ assets. A bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala …

Supreme Court orders liquidation of debt-ridden Jet Airways
4 months, 2 weeks ago

Supreme Court orders liquidation of debt-ridden Jet Airways

Hindustan Times  

The Supreme Court on Thursday ordered the liquidation of Jet Airways while setting aside the National Company Law Appellate Tribunal ruling that upheld the transfer of the defunct airline’s ownership to the Jalan-Kalrock Consortium under an approved resolution plan. Represented by advocates Debmalya Banerjee, Kartik Bhatnagar and Karanjawala & Co, JKC said it incurred significant losses, exceeding ₹600 crore, due …

Jet Airways liquidation ordered by Supreme Court amid unresolved financial issues
4 months, 2 weeks ago

Jet Airways liquidation ordered by Supreme Court amid unresolved financial issues

The Hindu  

A three-judge Bench headed by Chief Justice of India D.Y. Justice J.B. Pardiwala, who authored the judgment, ordered the amount of ₹200 crore paid by Jalan Kalrock Consortium towards the initial tranche payment of ₹350 crore to the creditors to be forfeited. The court set aside the NCLAT direction to the lenders of Jet Airways to adjust the ₹150 crore …

Jet Airways liquidation: A wake-up call for India’s insolvency code
4 months, 2 weeks ago

Jet Airways liquidation: A wake-up call for India’s insolvency code

Live Mint  

New Delhi: The Supreme Court’s decision ordering the liquidation of Jet Airways, once India’s leading airline, has provided sufficient fodder for bankruptcy experts urging for an overhaul of India’s insolvency framework. JKC’s repeated non-compliance with the terms of the resolution plan caused the value of the plan to diminish significantly," said Devesh Dubey, senior associate at Sanjay RPK Law, a …

Jet Airways grounded for good as Supreme Court orders liquidation
4 months, 2 weeks ago

Jet Airways grounded for good as Supreme Court orders liquidation

India Today  

The Supreme Court's ruling on November 7 to liquidate Jet Airways effectively closed the chapter on attempts to revive the once-prominent Indian airline. With Jet Airways grounded since 2019 due to financial distress, the court's decision highlights the challenges surrounding corporate recoveries within India’s aviation sector. The court also set aside the National Company Law Appellate Tribunal order, which allowed …

Supreme Court hears SBI consortium’s appeal against NCLAT verdict on Jet Airways transfer
10 months, 1 week ago

Supreme Court hears SBI consortium’s appeal against NCLAT verdict on Jet Airways transfer

The Hindu  

The Supreme Court on Wednesday partly heard a State Bank of India-led consortium’s challenge to a decision of the National Company Law Appellate Tribunal to approve a resolution plan proposed by Jalan-Kalrock consortium for Jet Airways. Chandrachud, senior advocate Harish Salve, for the SBI consortium, said the situation has become a “nightmare” for the lenders. The lenders described the NCLAT …

Jet Airways’ lenders move SC against NCLAT decision to uphold resolution plan
10 months, 3 weeks ago

Jet Airways’ lenders move SC against NCLAT decision to uphold resolution plan

Live Mint  

New Delhi: The lenders of Jet Airways, led by State Bank of India, have challenged a National Company Law Appellate Tribunal's decision that upheld the resolution plan proposed by the Jalan-Kalrock consortium for the bankrupt airline. Additionally, the appellate tribunal instructed JKC to settle dues towards the airline’s workmen, employees, creditors, and other costs of the resolution process from the …

IBC can’t resolve airline bankruptcies: Experts at Mint BFSI Summit
1 year, 2 months ago

IBC can’t resolve airline bankruptcies: Experts at Mint BFSI Summit

Live Mint  

The Insolvency and Bankruptcy Code can't resolve airline bankruptcies, according to RK Bansal, CEO and managing director of asset reconstruction company Edelweiss ARC. Speaking during a panel discussion titled ‘IBC and Banks: Challenges and Solutions’ at the Mint BFSI Summit and Awards 2024, Bansal highlighted a fundamental issue in the Indian aviation sector – most airlines don't own their planes …

Ace Aviation asks NCLAT to hear appeal on Jet plane case in 2 weeks
1 year, 6 months ago

Ace Aviation asks NCLAT to hear appeal on Jet plane case in 2 weeks

Live Mint  

New Delhi: Malta-based Ace Aviation, a potential buyer of grounded Jet Airways aircraft, has requested the National Company Law Appellate Tribunal to hear its appeal against an order by the Mumbai bench of the insolvency tribunal in two weeks. Ace Aviation had initially moved the NCLAT against an interim order passed by the Mumbai NCLT in July, which had rejected …

Jet Airways aircraft sale: Ace Aviation urges NCLAT to hear case in two weeks
1 year, 6 months ago

Jet Airways aircraft sale: Ace Aviation urges NCLAT to hear case in two weeks

Live Mint  

New Delhi: Malta-based Ace Aviation, a potential buyer of grounded Jet Airways aircraft, has requested the National Company Law Appellate Tribunal to hear its appeal against an order by the Mumbai bench of the NCLT in two weeks. In a previous hearing on 10 August, the NCLAT expressed a desire to settle the matter of pending dues between the lenders …

NCLAT gives Jalan-Kalrock consortium time till 30 Sep to repay Jet Air lenders
1 year, 6 months ago

NCLAT gives Jalan-Kalrock consortium time till 30 Sep to repay Jet Air lenders

Live Mint  

New Delhi: The National Company Appellate Tribunal on Monday gave Jalan-Kalrock consortium, the successful bidder for Jet Airways, time till 30 September to clear dues worth ₹350 crore to lenders of the grounded airline. The tribunal also accepted the consortium's plea to adjust ₹150 crore from a performance bank guarantee towards the payment of ₹350 crore. Lenders have infused approximately …

Uncertainty Continues Over Jet Airways Permit to Fly Again, Validity Expired
1 year, 10 months ago

Uncertainty Continues Over Jet Airways Permit to Fly Again, Validity Expired

News 18  

Uncertainty continues over the revival of grounded Jet Airways as the validity of the airline’s air operator’s certificate expires on Friday. There was no word from the Jalan Kalrock Consortium, which emerged as the winning bidder for the carrier under the insolvency resolution proceedings, on the status of the airline’s flying permit. The Air Operator’s Certificate of the airline, which …

Jet Airways Relaunch Remains Uncertain as Jalan-Kalrock Seeks More Time to Pay Lenders
1 year, 10 months ago

Jet Airways Relaunch Remains Uncertain as Jalan-Kalrock Seeks More Time to Pay Lenders

News 18  

The indefinite wait to see Jet Airways back in the skies continues for a while longer. Jalan-Kalrock consortium, who won the bid to takeover and restart the airline informed India’s bankruptcy court that it needs more time to repay creditors and implement the resolution plan. According to the January 13 verdict of the NCLT, the consortium is supposed to make …

Jet Airways Fails To Comply With The Notices In spite Of Several Opportunities: ITAT Imposes Cost Of Rs. 25,000 Payable To PM Relief Fund
2 years ago

Jet Airways Fails To Comply With The Notices In spite Of Several Opportunities: ITAT Imposes Cost Of Rs. 25,000 Payable To PM Relief Fund

Live Law  

The Mumbai Bench of the Income Tax Appellate Tribunal has observed that Jet Airways has failed to comply with the notices issued by the lower authorities in spite of several opportunities. 25,000 for being delinquent before the lower authorities which was to be paid to the Prime Minister’s Relief Fund within 30 days.The two-member. The assessee, Jet Airways, is a …

NCLT allows transfer of Jet Airways ownership to Jalan Kalrock consortium
2 years, 2 months ago

NCLT allows transfer of Jet Airways ownership to Jalan Kalrock consortium

Live Mint  

NEW DELHI: The National Company Law Tribunal has allowed the transfer of ownership of Jet Airways to winning bidder Jalan-Kalrock consortium. As per the resolution plan, the consortium has to make cash payments of ₹185 crore to financial creditors within 180 days from the effective date. On 22 June 2021, the tribunal in its order had approved the resolution plan …

Jet Airways revival hits new snag as banks push back on funding
2 years, 3 months ago

Jet Airways revival hits new snag as banks push back on funding

Live Mint  

Lenders to bankrupt Jet Airways India Ltd. are resisting a court-approved resolution plan, further delaying the former No. The primary dispute is about whether the new owners of Jet Airways need to pay more money into the pension funds of ex-employees, the people said, asking not to be identified because they’re not authorized to speak publicly about the matter. Banks, …

NCLT to hear Jet Airways matter on 6 December
2 years, 3 months ago

NCLT to hear Jet Airways matter on 6 December

Live Mint  

The Mumbai bench of the National Company Law Tribunal on Tuesday adjourned the Jet Airways insolvency matter to 6 December. An interim application was filed by the successful resolution applicant Jalan-Kalrock consortium before the NCLT seeking implementation of the resolution plan submitted by them in an attempt to transfer ownership of the airline. Currently, some lenders from the committee of …

NCLAT To Hear Appeals On Resolution Plan Of Jet Airways On 5th July, 2022
2 years, 9 months ago

NCLAT To Hear Appeals On Resolution Plan Of Jet Airways On 5th July, 2022

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Ms. Shreesha Merla, while hearing a batch of appeals filed against the resolution plan of Jet Airways Ltd. by aggrieved employees and workmen of Jet Airways; Punjab National Bank; TLD MEAI FZE; Jet Aircraft Maintenance Engineers Welfare Association; Bhartiya Kamgar Sena; and Concor Air, has fixed …

Jet Airways takes to the skies after three years: What’s in store for the once-bankrupt airline?
2 years, 10 months ago

Jet Airways takes to the skies after three years: What’s in store for the once-bankrupt airline?

Firstpost  

Jet Airways has already hired over 200 people across major operations, including former SpiceJet and Vistara executive Sanjiv Kapoor as its CEO. The airline plans to start operations in the September quarter of this year A Jet Airways test flight took to the skies on Thursday from Hyderabad Airport for the first time after a hiatus of three years. The …

Jet Airways to Resume Domestic Operations in Q1 of 2022
3 years, 6 months ago

Jet Airways to Resume Domestic Operations in Q1 of 2022

The Quint  

As per London-based Jalan Kalrock Consortium, the winning bidder for Jet Airways, the airline will begin its domestic operations, as well as short-haul international flights by the first quarter of 2022, and third and fourth quarter of 2022, respectively. Murari Lal Jalan, who is the Lead Member of the Jalan Kalrock Consortium and the proposed Non-Executive Chairman of Jet Airways …

PNB asks NCLAT to quash Jet Airways’ rescue plan
3 years, 6 months ago

PNB asks NCLAT to quash Jet Airways’ rescue plan

Live Mint  

New Delhi: India's Punjab National Bank on Thursday urged a tribunal to quash the rescue plan for defunct debt-laden Jet Airways, alleging irregularities in it, a move that risks delaying any return of the airline grounded two years ago. PNB, the court-appointed official in charge of Jet's revival, Ashish Chhawchharia, and a spokesperson for the consortium investing funds into the …

Jet Airways timeline: Journey from being cash-starved airline to resolution plan
3 years, 8 months ago

Jet Airways timeline: Journey from being cash-starved airline to resolution plan

India TV News  

In a much-anticipated breakthrough in the Jet Airways resolution, the National Company Law Tribunal has approved the resolution of Kalrock-Jalan consortium for the bankrupt Jet Airways. Last November, the resolution professional of Jet Airways submitted the successful resolution plan of Kalrock Capital and Murari Lal Jalan for the bankrupt airline at the NCLT. June 22, 2021 -- National Company Law …

Kalrock-Jalan cleared to restart Jet
3 years, 8 months ago

Kalrock-Jalan cleared to restart Jet

The Hindu  

The National Company Law Tribunal, Mumbai, on Tuesday approved the resolution plan of Kalrock Capital and entrepreneur Murari Lal Jalan for the revival of Jet Airways two years after the airline shut down operations due to a cash crunch. “The Consortium maintains its stand that it wants to work alongside the Ministry of Civil Aviation, the Directorate General of Civil …

Jet Airways Operations Remain Tough, Uncertain Despite CoC Approval Of Revival Plan: Expert
4 years, 5 months ago

Jet Airways Operations Remain Tough, Uncertain Despite CoC Approval Of Revival Plan: Expert

ABP News  

It seems that troubles for the ailing Jet Airways isn’t getting over soon even as the committee of creditors has approved the airline's revival plan submitted by the Kalrock Capital-Murari Lal Jalan consortium. According to news agency PTI report, Kaul has said the "terms" accepted by the Jet Airways creditors did not make sense to CAPA.The committee of creditors has …

Jet’s lenders approve Kalrock Capital-Murari Jalan’s plan to revive airline
4 years, 5 months ago

Jet’s lenders approve Kalrock Capital-Murari Jalan’s plan to revive airline

Live Mint  

NEW DELHI: The lenders of Jet Airways Ltd on Saturday approved the resolution plan submitted by UK-based Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan to revive and operate the airline over a year after the carrier was grounded due to acute funds crunch under the ownership of its founder Naresh Goyal. "The e-voting concluded today, i.e., October 17, 2020 …

Jet Airways Pays $13 Million to Take Ownership of Six Boeing Aircraft and Engines
4 years, 7 months ago

Jet Airways Pays $13 Million to Take Ownership of Six Boeing Aircraft and Engines

News 18  

Jet Airways, which is undergoing an insolvency resolution process, has acquired ownership of six Boeing aircraft along with engines, according to a regulatory filing. As per the filing, a buyout option was exercised whereby the company made payment of USD 13,000,000 to acquire ownership of six aircraft and engines. "One of the end-uses contemplated by the NCLT order is that …

Jet Airways: CoC decides to extend deadline for bids to 10 March after Russian Fund shows interest in grounded airline
5 years, 1 month ago

Jet Airways: CoC decides to extend deadline for bids to 10 March after Russian Fund shows interest in grounded airline

Firstpost  

The deadline for submitting the bids for Jet Airways, which is undergoing insolvency process, ended on Monday The Committee of Creditors of grounded airline Jet Airways decided to extend the deadline for submission of bids to 10 March on Tuesday as a new entity has evinced interest in the airline, according to a source. #aviation https://t.co/cJwhEuapr1 — CNBC-TV18 February 18, …

Jet Airways revival plan: Creditors panel to meet today, may decide on extending deadline to two suitors keen on crisis-hit airline
5 years, 1 month ago

Jet Airways revival plan: Creditors panel to meet today, may decide on extending deadline to two suitors keen on crisis-hit airline

Firstpost  

The second bidder, South America-based Synergy Group, did not submit a plan for Jet Airways and the group reportedly sought clarity on slots in the domestic and international routes of the grounded airline. Even as Jet Airways’ Committee of Creditors is to meet today to decide on extending deadline to two suitors that have evinced interest in the grounded airline, …

As liquidation threat looms, Jet Airways bidders still not ready
5 years, 1 month ago

As liquidation threat looms, Jet Airways bidders still not ready

Live Mint  

Bankrupt carrier Jet Airways India Ltd., once the nation’s biggest by market value, faces fresh warning signs as a deadline to avoid liquidation looms. The two shortlisted bidders Synergy Group Corp. and Prudent ARC Ltd. had both submitted expressions of interest in January, but haven’t yet cobbled together bidding groups. Short of a court judgment to the contrary, creditors are …

Jet Airways signs pact with KLM to liquidate Netherlands assets
5 years, 2 months ago

Jet Airways signs pact with KLM to liquidate Netherlands assets

Live Mint  

Jet Airways Ltd has entered into a conditional sale and purchase agreement with KLM Royal Dutch Airlines to liquidate the assets of the bankrupt airline in the European country. Two local creditors--H Esser Finance Company and Wallenborn Transport --filed a petition against Jet Airways in April 2019, citing unpaid claims worth around ₹280 crore. In September 2019, the National Company …

Synergy, Prudent left in the fray as Hinduja refuses to board Jet Airways
5 years, 2 months ago

Synergy, Prudent left in the fray as Hinduja refuses to board Jet Airways

Live Mint  

Mumbai/ New Delhi: London-based Hinduja group pulled out of the race for Jet Airways Ltd, leaving only two contenders—South America’s Synergy Group and New Delhi-based Prudent ARC Ltd—in the fray to acquire the airline that shut operations in April last year, said two people with direct knowledge of the matter. “It’s quite impossible to resurrect Jet Airways,” said a Mumbai-based …

Hinduja Group still interested in Jet Airways after approach by govt, banks; resolution professional invites fresh EoI for defunct airline
5 years, 2 months ago

Hinduja Group still interested in Jet Airways after approach by govt, banks; resolution professional invites fresh EoI for defunct airline

Firstpost  

Earlier in June, the Hinduja Group had backed out of bidding for the Naresh Goyal-owned airline as they felt it was too risky for them to get involved due to the then ongoing government investigations and the insolvency pleas submitted by operational creditors at the NCLT, The Hinduja group is still keen to bid for the grounded airline, Jet Airways. …

Hopes reignite for Jet Airways: NCLT asks lenders to release lifeline funds
5 years, 5 months ago

Hopes reignite for Jet Airways: NCLT asks lenders to release lifeline funds

India TV News  

The National Company Law Tribunal Wednesday directed the financial creditors of the grounded Jet Airways to release some interim lifeline funds within 15 days. However, other lenders like Yes Bank, Punjab National Bank, IDBI Bank, Bank of India, Indian Overseas Bank and Axis Bank are yet to release their portion. The RP of Jet Airways had moved NCLT on September …

Jet Airways stake sale: Lenders of bankrupt airline give third extension for EoI to 31 Aug
5 years, 6 months ago

Jet Airways stake sale: Lenders of bankrupt airline give third extension for EoI to 31 Aug

Firstpost  

The bankruptcy court had on 20 June appointed Ashish Chhawchharia as RP, who late last month had floated EoIs for Jet Airways that stopped flying mid-April. Mumbai: The lenders to the defunct Jet Airways Monday for the third time extended the deadline for submission of expressions of interest for stake sale in the bankrupt airline to 31 August after a …

Jet Airways crisis: Lenders mull liquidation of grounded airline after EoIs attract no major bidder, CoC may meet this week
5 years, 7 months ago

Jet Airways crisis: Lenders mull liquidation of grounded airline after EoIs attract no major bidder, CoC may meet this week

Firstpost  

The decision of Abu Dhabi-based Etihad Airways to exit from the resolution plan of the crisis-hit airline has reportedly hastened Jet Airways’ liquidation process. The revival of grounded Jet Airways seems to be over with the debt-laden airline’s strategic partner Etihad Airways reportedly moving out of the resolution plan, said a media report. The decision of Abu Dhabi-based Etihad Airways …

Jet Airways’ $3bn debt scares away two potential investors
5 years, 7 months ago

Jet Airways’ $3bn debt scares away two potential investors

Al Jazeera  

The Indian airline owes more than $3bn to its lenders, lessors, staff and other suppliers. Creditors’ hopes of resurrecting India’s Jet Airways and salvaging some value from the bankrupt airline were dealt a fresh blow on Monday as two potential investors said they were no longer interested in putting money into the business. Separately, the United Arab Emirates’ Etihad said …

Jet Airways extends deadline for submission of bids to 10 August; deadline extended on request of bidders
5 years, 7 months ago

Jet Airways extends deadline for submission of bids to 10 August; deadline extended on request of bidders

Firstpost  

Jet Airways and its lenders have been searching for new investors since its planes were grounded and staff left unpaid Defunct Jet Airways has extended the deadline for initial bids for the bankrupt airline to 10 August from 3 August, a statement from the company said on Saturday. Etihad Airways and the Hinduja Group are unlikely to submit an expression …

Jet Airways crisis: SBI moves intervention plea against HDFC claim on airline's BKC property; NCLT adjourns matter for 8 August
5 years, 7 months ago

Jet Airways crisis: SBI moves intervention plea against HDFC claim on airline's BKC property; NCLT adjourns matter for 8 August

Firstpost  

Mumbai: State Bank of India, the lead lender to the bankrupt Jet Airways, on Wednesday moved an intervention application against mortgage lender HDFC’s plea claiming rights over a portion of the airline’s BKC property. On 4 July, the mortgage lender HDFC had moved the NCLT seeking to keep the airline’s BKC property out of the bankruptcy process saying three floors …

Cash-strapped Jet Airways lenders attempt to sell bankrupt carrier again; to call bids for asset sale by 20 July
5 years, 8 months ago

Cash-strapped Jet Airways lenders attempt to sell bankrupt carrier again; to call bids for asset sale by 20 July

Firstpost  

Last month, JetAirways’ creditors, led by State Bank of India, took the airline to the bankruptcy court after failing to agree on a revival plan New Delhi: Lenders to Jet Airways will open bids to sell the bankrupt airline on 20 July as they look to recover about 85 billion rupees of loans, two sources familiar with the matter said …

Delhi HC refuses to grant urgent relief to Jet Airways founder Naresh Goyal
5 years, 8 months ago

Delhi HC refuses to grant urgent relief to Jet Airways founder Naresh Goyal

Live Mint  

New Delhi: Delhi High Court on Tuesday refused to grant urgent relief to founder of Jet Airways Naresh Goyal, and sought response from the Centre on his plea to travel abroad. The circular against Goyal was issued by the corporate affairs ministry after it found several irregularities in the airline company, following which Goyal and his wife were offloaded from …

NCLT to next hear Jet Airways case on 23 July
5 years, 8 months ago

NCLT to next hear Jet Airways case on 23 July

Live Mint  

The Mumbai bench of the National Company Law Tribunal on Friday said that it will hear the insolvency case against Jet Airways Ltd. and next progress report by the insolvency resolution professional, who have been approved by the court to oversee the insolvency proceedings of the airline, on 23 July. The court-appointed IRP for Jet Airways, Ashish Chhawchharia of Grant …

Buy Jet Airways and make it Mahindra Airways? What Anand Mahindra replied
5 years, 8 months ago

Buy Jet Airways and make it Mahindra Airways? What Anand Mahindra replied

Live Mint  

New Delhi: A Twitter user gave an interesting advice to Mahindra group chairman Anand Mahindra. The user under the name of Lalit Mathpal suggested the tycoon buy the debt-ridden Jet Airways and name it Mahindra Airways. He has 7.03 million followers on Twitter The downfall of Jet Airways illustrates the challenge of making money in India's aviation sector, dominated by …

Jet Airways saga: Buyers await regulator’s scrutiny of airline’s flying license
5 years, 8 months ago

Jet Airways saga: Buyers await regulator’s scrutiny of airline’s flying license

Live Mint  

With prospective buyers lining up to take a shot at bagging Jet Airways cheap, its prime asset -- the flying license -- is under the aviation regulator's scrutiny that might derail the NCLT-backed resolution process. However, since the NCLT has stated that matter of resolution at Jet Airways is considered to be of "national importance", the resolution professional is widely …

Jet Saga: Buyers await regulator's scrutiny of airline's flying license
5 years, 8 months ago

Jet Saga: Buyers await regulator's scrutiny of airline's flying license

India TV News  

Jet Saga: Buyers await regulator's scrutiny of airline's flying license With prospective buyers lining up to take a shot at bagging Jet Airways cheap, its prime asset -- the flying license -- is under the aviation regulator's scrutiny that might derail the NCLT-backed resolution process. With prospective buyers lining up to take a shot at bagging Jet Airways cheap, its …

AdiGroup, employee consortium to bid for 75% of Jet Airways
5 years, 8 months ago

AdiGroup, employee consortium to bid for 75% of Jet Airways

The Quint  

New Delhi, June 28 London-based AdiGroup along with Jet Airways Employee Consortium have partnered to bid for 75 per cent stake of Jet Airways under the insolvency resolution process. The AdiGroup and Jet Employees Consortium combine is confident of reviving the airline by successfully bidding for the airline under the process. AdiGroup Chairman Sanjay Viswanathan said the combine expects a …

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