Jet Airways to sell BKC space to clear HDFC dues

The National Company Law Tribunal (NCLT) has allowed Jet Airways to sell its premises in Bandra Kurla Complex (BKC) to settle Rs 360 crore dues of mortgage lender HDFC, clear overseas debt and cover corporate insolvency resolution process costs.

Jet Airways’ insolvency resolution professional Ashish Chhawchharia had moved the NCLT to seek approval to sell its third and fourth floor in Godrej BKC building to clear overseas debt and transfer the title of six aircraft under the Export-Import Bank of the US to the corporate debtor.

The insolvency professional had sought the permission of the tribunal for the sale f the premises after a resolution was passed at the 10th committee of creditors (CoC) meeting held on April 24 with the approval of 74.45 per cent votes.