Lenders led by State Bank of India have decided to take the grounded Jet Airways to bankruptcy courts after failing to stitch together a revival plan despite working on it for over five months. NCLT to hear the Jet case on June 19. Two operational creditors, Shaman Wheels Pvt Ltd and Gaggar Enterprises Pvt Ltd, have already filed two separate insolvency pleas against the airline in the Mumbai NCLT. The hearing on these petitions is likely on June 20. Meanwhile, lenders have also approached aviation ministry to protect Jet Airways' slots and routes.
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Watch Jet Airways lands in NCLT: Lenders' plea to be heard on June 19 With HD Quality.
Lenders led by State Bank of India have decided to take the grounded Jet Airways to bankruptcy courts after failing to stitch together a revival plan despite working on it for over five months. NCLT to hear the Jet case on June 19. Two operational creditors, Shaman Wheels Pvt Ltd and Gaggar Enterprises Pvt Ltd, have already filed two separate insolvency pleas against the airline in the Mumbai NCLT. The hearing on these petitions is likely on June 20. Meanwhile, lenders have also approached aviation ministry to protect Jet Airways' slots and routes.
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Watch Jet Airways lands in NCLT: Lenders' plea to be heard on June 19 With HD Quality
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The National Company Law Tribunal (NCLT) on Thursday admitted the State Bank of India's insolvency plea against the now-grounded Jet Airways. The Mumbai bench of the tribunal has directed the Insolvency Resolution Professional (IRP) to make efforts to resolve the matter within three months, given it is of national importance.
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Watch NCLT admits insolvency plea against Jet Airways With HD Quality
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Watch Jet Airways Flight Hits Another Jet Airways Flight In Delhi | Major Disaster averted | iNews With HD Quality
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Jet Airways Sold For One Rupee | Indian Airline Jet Airways Sold 50 % Of It's Stake For One Rupee Top Telugu TV
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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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 Lenders to take Jet Airways to NCLT, revival hope gets bleaker With HD Quality
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Jet Airways’ lenders, led by State Bank of India, gave up on efforts to revive the airline that has been grounded for two months. The lenders have started bankruptcy proceedings. Anirban Chowdhury explains what’s in store for the airline as it goes through the bankruptcy proceedings and how does the future looks like. Watch
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Watch Jet Airways in NCLT: What's in store for investors? With HD Quality
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Watch Stocks in news- Zee Ent, Tech Mah, Spice Jet, Jet Airways and HCL Tech With HD Quality
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India's oldest private carrier suspended all operations temporarily on Wednesday, with no money to fly and banks refusing to lend any more. It has left more than 15,000 employees in the lurch. What will be the future of Jet Airways? Anirban Chowdhury has more.
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Watch The Jet saga: Possible outcomes | Jet Airways Crisis | Economic Times With HD Quality
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No last word from lenders on interim funding yet. But, we believe in Jet and will leave no stone unturned to resurrect Jet. We are in constant touch with lenders: Jet Airways CEO Vinay Dube
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Watch Jet Airways CEO Vinay Dube breaks his silence on Jet crisis With HD Quality
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