With the top management of Jet Airways resigning en masse, State Bank of India, the lead lender to the airline, may seek to appoint a court-appointed receiver to manage the affairs of the debt-ridden company.
“As bankers do not have the capability to run the airline, there has been a request to appoint a receiver. For this, the lenders will have to approach the NCLT (National Company Law Tribunal) or the High Court. SBI may come up with a list of two or three aviation experts to be appointed as a receiver, who will look after the interests of the airline,” said a banking industry source.
Earlier this week, Jet Airways CEO Vinay Dube, CFO Amit Agarwal, Company Secretary and Compliance Officer Kuldeep Sharma and Chief People Officer Rajhul Taneja quit the company, citing personal reasons. Whole-time director Gaurang Shetty has also resigned.
