NCLAT issues notice over PNB’s plea against Jet Airways resolution plan
Public sector lender Punjab National Bank NSE 1.60 % (PNB) has moved the Insolvency appellate tribunal NCLAT against the approval of bids for defunct airline Jet Airways NSE 4.95 %. The National Company Law Appellate Tribunal (NCLAT) bench has issued a notice over the PNB’s petition along with its interim plea seeking a stay over the execution of the resolution plan.
A three-member bench has directed the Resolution Professional of Jet Airways along with other parties including the Committee of Creditors to file a reply within two weeks and rejoinder, if by PNB, within one week.
