In a major setback to the lenders’ revival/sale plan of the grounded Jet AirwaysNSE -8.33 %, two operational creditors–Shaman Wheels and Gaggar Enterprises – Monday moved the NCLT seeking bankruptcy proceedings against the airline.
The tribunal issued notices to Jet Airways and banks which own the airline now and posted the matter for further hearing on June 13 when it will decide on admitting or rejecting the bankruptcy pleas.
The development comes at a time when banks are looking to resolve the once premier airline’s debt issues outside the insolvency process.
