Lenders led by the State Bank of India NSE 0.67 % (SBI) could push Jet Airways NSE -0.57 % into liquidation if the winning bidder, the Jalan-Kalrock consortium, disagrees on distributing the proceeds from aircraft rentals among the financing banks, two people aware of the development told ET. Aircraft rentals to Air Serbia have so far yielded about ₹108 crore, the people cited above said. The amount is parked with the SBI NSE 0.67 %.
“At a meeting held earlier this week, the banks conveyed to the winning bidder that they will apply for liquidation if lease rentals are not distributed to verified lenders,” said one of the persons cited above.
