Jet Airways lenders vote on proposals for resolution under IBC
Mumbai: The committee of creditors (CoC) of Jet Airways is voting electronically on a clutch of resolutions as part of the corporate insolvency resolution process (CIRP). The window for e-voting under the Insolvency and Bankruptcy Code (IBC) opened on Thursday and will end on Friday.
Resolutions up for vote include a $10-million interim fund infusion into the airline, eligibility criteria for potential bidders, appointment of consultants for valuation of the company’s assets, among others.
On Thursday, Jet Airways’ resolution professional disclosed that creditors have claimed ₹24,887 crore of dues under IBC. Financial creditors who have the first right to proceeds from a bankruptcy resolution have claimed ₹10,231 crore, while 2,400 operational creditors have claimed ₹12,372 crore.
