Mumbai: The National Company Law Tribunal (NCLT) on Thursday admitted lenders move for bankruptcy proceedings for Jet Airways. The NCLT has directed the Interim Resolution Professional (IRP) to take control of all Jet assets and try to resolve the matter within a period of three months as the matter is of national importance. It further asked the IRP, Ashish Chhauchharia of Grant Thornton, to submit the progress report on the case on a fortnightly basis. The first status report will have to be filed by July 5.
The insolvency tribunal also rejected judgement by the Netherlands court on Jet’s liquidation. A consortium of 26 bankers led by State Bank of India (SBI) had taken the grounded Jet Airways to the NCLT to recover their dues of over Rs 8,500 crore after they failed to get a suitable offer from any of the potential investors.
