The National Company Law Tribunal (NCLT) on Tuesday directed the interim resolution professional of Jet Airways to discuss employee concerns over payment of salaries with the committee of creditors, citing necessity of ensuring payment for ‘survival of employees’.
A Jet Airways employee association was seeking the court’s permission for release of one month’s salary. The tribunal, comprising judges VP Singh and Ravikumar Duraisamy, suggested the IRP for Jet Airways, Ashish Chhawchharia of Grant Thornton India, discuss the matter with the committee of creditors (CoC), even suggesting that making salary payments a part of the CIRP cost be considered.
Last week, the Jet Airways CoC is understood to have approved around Rs 70 crore in interim funding to be used towards corporate insolvency resolution process.
