Shares of Jet Airways hit the 5 per cent upper circuit on Wednesday as the resolution process of the company has concluded and the seven-member monitoring committee has been constituted.
Around 12.40 p.m., shares of Jet Airways were at Rs 133.10, higher by Rs 6.30 or 4.97 per cent from their previous close.
In a regulatory filing, the airline said that the first meeting of Monitoring Committee was held on June 28, 2021.
With the approval of the National Company Law Tribunal to the Kalrock-Jalan consortium’s resolution plan, the Corporate Insolvency Resolution Process (CIRP) of the bankrupt airline has concluded and Ashish Chhawchharia has ceased to be the resolution professional of the company, effective from June 25, 2021.
