Jet Airways: Seven-member panel to manage airline under resolution plan
A seven-member monitoring committee, including members appointed by the winning bidder Jalan Kalrock Consortium and the lenders, will soon start managing the day-to-day affairs of Jet Airways till the resolution process is complete.
Further, Ashish Chhawchharia has ceased to be the resolution professional of the airline, according to a regulatory filing.
On June 22, the National Company Law Tribunal (NCLT) approved the consortium’s resolution plan for grounded Jet Airways, subject to certain conditions.
The full-service carrier, which suspended operations in April 2019, was undergoing Corporate Insolvency Resolution Process (CIRP).
“The CIRP of the company has therefore concluded and Mr Ashish Chhawchharia has ceased to be the resolution professional of the company, effective on and from June 25, 2021,” the filing to the stock exchanges said on Saturday.
