The majority of Jet Airways’ shareholders have approved the proposal to let lenders take control of the company by converting their debt to equity.
According to data shared by the company, nearly 98 per cent of the shareholders who voted at the EGM on Thursday voted in favour of the proposal.
Jet said in a filing to the stock exchanges on Friday that shareholders have approved five proposals that were put up for voting at the EGM. However, sources said minority shareholders raised questions on lenders taking control of the debt-laden airline.
