To recover its loans from Jet Airways, state-run lender SBI is mulling moving National Company Law Tribunal as it feels the airline is running out of funds for operations, even as shareholders of the debt-laden carrier have approved a debt rejig plan, officials said.
Shareholders of Jet Airways have approved conversion of loan into shares and other proposals during the Extraordinary General Meeting (EGM) on Thursday.
A consortium of banks, led by the SBI, has extended loans to Jet Airways, which is looking to rejig debt and raise funds.
Officials associated with the lenders and key shareholders said the SBI is considering moving the National Company Law Tribunal (NCLT) seeking insolvency proceedings against Jet Airways since it is running out of money for operations.
