Jet Airways lenders to meet today; decide on potential investors

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This is the second meeting of Jet Airways’ CoC after the National Company Law Tribunal (NCLT) admitted the company under the Insolvency and Bankruptcy Code (IBC) last month.

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    This is the second meeting of Jet Airways’ CoC after the National Company Law Tribunal (NCLT) admitted the company under the Insolvency and Bankruptcy Code (IBC) last month.

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    Watch Jet Airways lenders to meet today; decide on potential investors With HD Quality

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    Debt-ravaged Jet Airways India, the country's biggest so-called full-service airline, is selling a majority stake for 1 rupee - a little more than 1 US cent. It's part of a bailout plan by its state-owned lenders that will give the airline time to arrange fresh equity. The complicated arrangement is on track to be voted through on February 21, in what would represent the rescue of one of the country's most visible companies at a sensitive time, with India's general election just weeks away.

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    SBI Chairman is likely to discuss lenders strategy for Jet Airways with Arun Jaitley, ET Now's Nayantara Rai learns from her sources. Listen in!

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    Lenders of Jet Airways are likely to pick up a substantial stake in the debt-laden airline till a new promoter is roped in, sources said. The process of getting a new promoter on board is likely to take another two to three months and once that happens, the banks would offload their stakes, they added. The State Bank of India-led consortium of lenders is working on a resolution plan for the cash-strapped Jet Airways for the last five months. The full service carrier has a debt burden of more than Rs 8,200 crore and needs to make repayments worth up to Rs 1,700 crore by March end.

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    An SBI-led consortium of banks is set to take Jet Airways to NCLT under the Insolvency and Bankruptcy Code as efforts to seek resolution outside of IBC didn't materialise. The statement from the lenders said: “A meeting of lenders was held today to consider the way forward in respect of Jet Airways. After due deliberations, Lenders have decided to seek resolution under IBC since only a conditional bid was received and requirement of the Investor for SEBI exemptions




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    Watch the full film 'SAMARPAN' online on
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    - Associate Director: Rohit Kumar
    - Editor: Bhasker Pandey
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    Harjas Singh Marwah
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    - Rolling Frames Entertainment - (https://rfetv.in)
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    Surinder Singh
    - Subtitles: Diveeja Sharma

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    SAMARPAN is an ode to the dedicated team of ASHI, Haryana and Ashiana Children's Home, as they mark their Golden Jubilee this year in 2019. Available in Hindi and English Subtitles.
    Watch the full film 'SAMARPAN' online on
    - Rolling Frames Entertainment - (https://rfetv.in)
    - VEBLR - (https://veblr.com/)
    - ASHI, Haryana's website - https://ashi-haryana.org/

    About ASHI, Haryana:
    Association for Social Health in India (ASHI) is a Voluntary and Social Organization aiming at challenging those conditions that lead to exploitation of women and children for anti-social purposes by providing shelter for Destitute & Orphan children and arranging for their education, vocational training and rehabilitation are one of the Association’s main activities. The Governor of Haryana, their Chief Patron, visits the Home once a year to encourage and bless the children.

    All Rights Reserved - Pinaka Mediaworks LLP - 2019
    Produced by: Association of Social Health in India (Haryana State Branch), Pinaka Mediaworks & Rolling Frames Entertainment.
    Director: Ojaswwee Sharma

    Production House - Pinaka Mediaworks LLP
    - Associate Director: Rohit Kumar
    - Editor: Bhasker Pandey
    - Cinematography Team:
    Raman Kumar
    Harjas Singh Marwah
    Surinder Singh
    - Subtitles: Diveeja Sharma

    For Pinaka Mediaworks LLP (India)

    - Co-founder & CFO: Sunil Sharma
    - Brand Communication Head: Diveeja Sharma
    - Head of Post Production: Bhasker Pandey
    - Legal Advisor: Vishal Taneja

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    SAMARPAN is an ode to the dedicated team of ASHI, Haryana and Ashiana Children's Home, as they mark their Golden Jubilee this year in 2019. Available in Hindi and English Subtitles.
    Watch the full film 'SAMARPAN' online on
    - Rolling Frames Entertainment - (https://rfetv.in)
    - VEBLR - (https://veblr.com/)
    - ASHI, Haryana's website - https://ashi-haryana.org/

    About ASHI, Haryana:
    Association for Social Health in India (ASHI) is a Voluntary and Social Organization aiming at challenging those conditions that lead to exploitation of women and children for anti-social purposes by providing shelter for Destitute & Orphan children and arranging for their education, vocational training and rehabilitation are one of the Association’s main activities. The Governor of Haryana, their Chief Patron, visits the Home once a year to encourage and bless the children.

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    Director: Ojaswwee Sharma

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    - Editor: Bhasker Pandey
    - Cinematography Team:
    Raman Kumar
    Harjas Singh Marwah
    Surinder Singh
    - Subtitles: Diveeja Sharma

    For Pinaka Mediaworks LLP (India)

    - Co-founder & CFO: Sunil Sharma
    - Brand Communication Head: Diveeja Sharma
    - Head of Post Production: Bhasker Pandey
    - Legal Advisor: Vishal Taneja

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