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, 1 month 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 public limited company engaged in the business of scheduled airlines, carrying out transportation of passengers and cargo and other allied services. It is observed that in spite of several notices, the assessee has failed to furnish details before the AO except for a letter received from Ashish Chhawchharia, Resolution Professional for Jet Airways Ltd., stating that the assessee company was undergoing Corporate Insolvency Resolution Process as per the Insolvency and Bankruptcy Code, 2016 as directed by the National Company Law Tribunal, seeking for the assessment proceedings to be kept in abeyance.

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History of this topic

Jet Airways saga: Buyers await regulator’s scrutiny of airline’s flying license
5 years, 9 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 Airways crisis: Pilots, engineers unions, 2 Dutch vendors seek to be made parties to bankruptcy hearings
5 years, 9 months ago

Jet Airways crisis: Pilots, engineers unions, 2 Dutch vendors seek to be made parties to bankruptcy hearings

Firstpost  

Jet Airways owes over Rs 3,000 crore to its 23,000 employees who have not been paid since March and some of them like engineers and pilots were getting part salaries since last December. Mumbai: The pilots and engineers unions of Jet Airways and two Dutch logistics vendors to the grounded airline on Wednesday moved the NCLT seeking them to be …

Jet Airways crisis: SBI-led lenders file for grounded airlines' bankruptcy; hearing from Wednesday
5 years, 9 months ago

Jet Airways crisis: SBI-led lenders file for grounded airlines' bankruptcy; hearing from Wednesday

Firstpost  

Mumbai: The consortium of 26 bankers led by State Bank Tuesday took the grounded Jet Airways to the National Company Law Tribunal to recover their dues of over Rs 8,500 crore. Jet Airways, started over 25 years ago by airline-ticketing-agent-turned-entrepreneur Naresh Goyal, stopped flying on 17 April after it ran out of cash and the unpaid lessors took away most …

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 …

Jet Airways crisis: Lenders to take debt-laden airline to NCLT as banks yet to get any concrete proposal for revival
5 years, 9 months ago

Jet Airways crisis: Lenders to take debt-laden airline to NCLT as banks yet to get any concrete proposal for revival

Firstpost  

The bank said lenders have been making efforts to find a resolution for Jet Airways outside IBC but now have decided to seek a resolution within the IBC. Mumbai: State Bank of India-led consortium of lenders on Monday decided to send the now-grounded Jet Airways to the National Company Law of Tribunal as they have not yet received any concrete …

Jet Airways CEO tells staff no word from promoters, banks on salaries
5 years, 11 months ago

Jet Airways CEO tells staff no word from promoters, banks on salaries

Live Mint  

In a clear indication of lack of support from the lenders on further funding, Jet Airways chief executive Vinay Dube has said it is painful that there is no commitment on the part of the all stakeholders on paying salaries to the employees which are due in a few days. The airline suspended operations after the SBI-led consortium of lenders …

Jet executives meet Arun Jaitley, urge salary payment
5 years, 11 months ago

Jet executives meet Arun Jaitley, urge salary payment

Live Mint  

Senior executives of grounded Jet Airways met the Union finance minister Arun Jaitley on Friday and requested him to direct the banks to release at least one month's salary. Speaking to IANS, National Aviator's Guild Vice President Captain Asim Valiani said the Finance Minister assured them that he would look into all issues raised by the airline employees. The airline …

Jet Airways seeks government backing for salary payment
5 years, 11 months ago

Jet Airways seeks government backing for salary payment

Live Mint  

The leadership of distressed carrier Jet Airways Ltd. on Saturday sought government support in securing funds for paying part of salary dues to employees. Jet Airways chief executive officer Vinay Dube told reporters here after a meeting with finance minister Arun Jaitley on Saturday that the company has sought government support for securing funds for paying at least one month …

Jet Airways employees seek President Ram Nath Kovind ’s intervention for salary dues
5 years, 11 months ago

Jet Airways employees seek President Ram Nath Kovind ’s intervention for salary dues

Live Mint  

New Delhi: Employees of Jet Airways have written to President Ram Nath Kovind and Prime Minister Narendra Modi seeking their intervention to recover outstanding dues as well as to expedite the process of emergency funds for the airline, which has shuttered its operations temporarily. In separate but similarly-worded letters this week, the Society for Welfare of Indian Pilots and Jet …

Jet Airways CEO says all jobs can't be secured during sale process; has 'no answer' for fate of over 20,000 employees
5 years, 11 months ago

Jet Airways CEO says all jobs can't be secured during sale process; has 'no answer' for fate of over 20,000 employees

Firstpost  

Mumbai: Hinting at job losses going forward, grounded carrier Jet Airways chief executive Vinay Dube on Wednesday said the airline does not have an “answer” at present on the fate of its 20,000-odd employees during the stake sale process. The SBI-led consortium of lenders has offered prospective bidders ownership of the airline anywhere between 31.2 percent and 75 for which …

Jet Airways CEO says all jobs can’t be secured during sale process
5 years, 11 months ago

Jet Airways CEO says all jobs can’t be secured during sale process

Live Mint  

Hinting at job losses going forward, grounded carrier Jet Airways chief executive Vinay Dube Wednesday said the airline does not have an "answer" at present on the fate of its 20,000-odd employees during the stake sale process. The SBI-led consortium of lenders has offered prospective bidders ownership of the airline anywhere between 31.2% and 75% for which it had run …

Jet Airways crisis: Mumbai-Delhi oneway airfare touches Rs 32,000 per ticket
5 years, 11 months ago

Jet Airways crisis: Mumbai-Delhi oneway airfare touches Rs 32,000 per ticket

India TV News  

Amid an unprecedented crisis in Jet Airways, airfares in India are continuously skyrocketing ever since the cash-strapped airline suspended its domestic and international flights. There was chaos at the Mumbai airport due to the suspension of Jet Airways flights," he said. Jet Airways is operating just 6-7 planes, with almost its entire fleet being grounded due to non-payment of rentals …

Jet Airways crisis: Pilots body appeals SBI to release Rs 1,500 crore, asks Narendra Modi to save 20,000 jobs
5 years, 11 months ago

Jet Airways crisis: Pilots body appeals SBI to release Rs 1,500 crore, asks Narendra Modi to save 20,000 jobs

Firstpost  

Jet Airways is operating just 6-7 planes, with almost its entire fleet being grounded due to non-payment of rentals to lessors amid severe paucity of cash Mumbai: Jet Airways pilots body, the National Aviator’s Guild, Monday appealed the State Bank of India to release Rs 1,500 crore, which was proposed to be infused in the ailing carrier as part of …

Jet Airways pilots appeal to SBI for funds, also ask PM to save 20,000 jobs
5 years, 11 months ago

Jet Airways pilots appeal to SBI for funds, also ask PM to save 20,000 jobs

Live Mint  

Jet Airways pilots body, the National Aviator's Guild, Monday appealed the State Bank of India to release ₹1,500 crore, which was proposed to be infused in the ailing carrier as part of a debt-restructuring plan last month. "We would like to appeal SBI to release ₹1,500 crore funds for the airline to help it continue operations. We also appeal Prime …

Over 1,000 Jet Airways pilots not to fly from Monday due to unpaid salaries
5 years, 11 months ago

Over 1,000 Jet Airways pilots not to fly from Monday due to unpaid salaries

Live Mint  

More than a thousand pilots of India's debt-laden Jet Airways will not fly from on Monday as they have not been paid salaries for the past three months, the President of the National Aviators Guild said on Sunday. An urgent meeting to discuss the Jet situation was held at the prime minister's office on Friday, which was also attended by …

Jet Airways crisis deepens as 1,100 pilots vow to not fly, govt calls urgent meeting
5 years, 11 months ago

Jet Airways crisis deepens as 1,100 pilots vow to not fly, govt calls urgent meeting

India Today  

Around 1,100 pilots belonging to the National Aviator's Guild of India have threatened to stop flying for cash-strapped airline Jet Airways starting Monday, April 15. There is widespread worry over the financial situation of the airline, as several employees including some pilots protested against the airlines on April 13 over non-payment of salary. Lead lender SBI has been looking for …

Jet Airways union seeks FIR against Naresh Goyal, CEO, SBI chief over salaries
5 years, 11 months ago

Jet Airways union seeks FIR against Naresh Goyal, CEO, SBI chief over salaries

Live Mint  

Mumbai: The employees union of Jet Airways Ltd, which is facing its worst crisis, has sought to register first investigation reports against the airline's founder Naresh Goyal, chief executive officer Vinay Dube and SBI chairman Rajnish Kumar for non-payment of March salaries, even as passengers continued to bear the brunt of last-minute cancellations and missing refunds. Over 200 Jet Airways …

Jet Airways pilots threaten legal action over unpaid salaries
5 years, 11 months ago

Jet Airways pilots threaten legal action over unpaid salaries

Live Mint  

Mumbai: Pilots of Jet Airways Ltd have threatened to take legal action against the management of the cash-strapped airline if salaries pending for the last three months are not paid by 14 April. In a letter to Jet Airways’ chief executive officer Vinay Dube, the Mumbai-based lawyer representing the airline’s pilots union, National Aviators Guild, said her client will “resort …

Jet Airways on verge of collapse, help us get pending salaries: Pilots write to PM Narendra Modi
6 years ago

Jet Airways on verge of collapse, help us get pending salaries: Pilots write to PM Narendra Modi

India Today  

The pilots of financially-strapped Jet Airways have urged Prime Minister Narendra Modi and Civil Aviation Minister Suresh Prabhu to intervene and instruct the management to release their pending salaries. It will change the dynamics of aviation as fares will increase due to a reduction in capacity, and travelling public will face major inconvenience," said the National Aviators Guild, the registered …

Jet Airways pilots seek govt help to recover unpaid salaries, with interest
6 years ago

Jet Airways pilots seek govt help to recover unpaid salaries, with interest

Live Mint  

New Delhi: Cash-strapped Indian carrier Jet Airways Ltd's pilots union has for the first time sought the government's help to recover pending salaries and dues from the airline after their pleas to the management have fallen on "deaf ears". In a letter to India's labour minister, National Aviators Guild, which represents the majority of Jet Airways' pilots, has asked that …

Govt won’t interfere in Jet Airways issues: Suresh Prabhu
6 years, 2 months ago

Govt won’t interfere in Jet Airways issues: Suresh Prabhu

Live Mint  

The central government will not intervene in the matters of privately owned Jet Airways, which had defaulted on loan repayment last month, aviation minister Suresh Prabhu said on Monday. Prabhu said on the sidelines of an event in Mumbai that the aviation ministry is, however, in talks with the finance ministry to bring down the costs of the industry, including …

Jet Airways close to securing ₹1,500 crore loan from SBI
6 years, 2 months ago

Jet Airways close to securing ₹1,500 crore loan from SBI

Live Mint  

New Delhi: India’s debt-laden Jet Airways is close to reaching a deal with State Bank of India for a fresh loan of ₹ 1,500 crore to meet its working capital needs, two people aware of the matter told Reuters.The airline has scheduled a meeting on 8 January with its vendors and lessors, many of whom are getting increasingly concerned over …

Trouble mounts for Jet Airways: Here are key factors that led to airline's financial crisis
6 years, 3 months ago

Trouble mounts for Jet Airways: Here are key factors that led to airline's financial crisis

India Today  

India’s biggest full-service carrier Jet Airways, which is going through a massive financial crunch, recently decided to stop free meals for most of its domestic economy class passengers from January, reported Reuters. Having said that, here are some important facts related to the financial crisis at Jet Airways: Three consecutive quarterly losses The premium airline suffered three back-to-back quarterly losses …

Jet, SpiceJet promise to clear AAI dues; but what about Air India?
11 years, 4 months ago

Jet, SpiceJet promise to clear AAI dues; but what about Air India?

Firstpost  

New Delhi: Airports Authority of India has managed to extract a promise of part payment from two private airlines but seems helpless when it comes to sizeable airport dues of Air India. The AAI, which owns and operates most of the airports in the country, has been promised Rs 85 crore payment by Jet Airways and Rs 10 crore by …

Jet Airways Asked To Pay Dues Of Rs 69 Crore
13 years ago

Jet Airways Asked To Pay Dues Of Rs 69 Crore

India TV News  

New Delhi, Mar 10: After freezing the bank accounts of beleaguered Kingfisher Airlines, the service tax department has now served a notice on Jet Airways to pay up about Rs 69 crore as dues soon or face similar consequences, but the airline said it would do so by Monday. Jet Airways has not paid a total of about Rs 69 …

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