NEW DELHI/MUMBAI: Lenders led by State Bank of India are confident of resolving the financial crisis at Jet Airways before the end of the month. SBI has not ruled out Etihad renewing interest in the troubled airline. Lenders have also asked the Goyal family to step down from the board so that the spirit of the resolution is in line with the spirit of the bankruptcy code.
“He wants to retain control without bringing any money,” said a source referring to the move to evict Naresh Goyal and his representatives. Goyal’s departure from what was once India’s largest airline was a stumbling block in talks with the Tata Group as well. Apart from Goyal, his wife Anita, and Gaurang Shetty, who joined in 1996, represent the promoters on the board. Although lenders have not disclosed the plan post the exit of Goyal, they are keen to rope in other investors and would prefer domestic players, government sources indicated.
