NEW DELHI: The registrar of companies (RoC) in Mumbai will report to the government in a month whether the promoters of Jet Airways (India) Ltd need to be investigated for any fund diversion, a person familiar with the development said.
The RoC has decided to speed up its ongoing inspection of Jet Airways’ books, which was initiated last August after the company deferred its first quarter FY19 results the same month.
This is an added cause of concern for the shareholders of the grounded airline. Shareholders of a company are not liable for a business failure, but any fund diversion by promoters can deprive them of their limited liability.
