SBI chairman defends sending Jet Airways to bankruptcy court
State Bank chairman Rajnish Kumar Thursday defended the lenders’ decision to take Jet AirwaysNSE -30.39 % for bankruptcy saying “it was their last effort to find a resolution” for the grounded airline and also did not rule out the possibility of liquidation.
Earlier this week, SBI-led consortium of 26 lenders had decided to seek resolution under IBC as they had received only a conditional bid.
The statement comes on the day when the Mumbai bench of the NCLT admitted lenders’ plea for insolvency for the airline which stopped flying from April 17.
