{"id":269817,"date":"2019-04-20T05:29:23","date_gmt":"2019-04-20T05:29:23","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=269817"},"modified":"2019-04-20T05:29:23","modified_gmt":"2019-04-20T05:29:23","slug":"banks-seek-rbis-special-permission-to-convert-jet-airways-debt-into-equity","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/banks-seek-rbis-special-permission-to-convert-jet-airways-debt-into-equity\/","title":{"rendered":"Banks seek RBI&#8217;s special permission to convert Jet Airways&#8217; debt into equity"},"content":{"rendered":"<p>Mumbai: In the absence of general guidelines from the Reserve Bank of India (RBI), State Bank of India (SBI), on behalf of the lenders\u2019 consortium, has sought special permission from the central bank for conversion of debt into equity in Jet Airways (India) Ltd. This comes after the Supreme Court quashed the RBI\u2019s 12 February circular allowing such conversions in companies with negative net worth.<\/p>\n<p>SBI, on behalf of the lenders\u2019 consortium, had earlier proposed to convert the airline\u2019s debt into equity for a notional value of \u20b91 for a 51% stake in the distressed company.<\/p>\n<p>This move was based on RBI\u2019s circular which the Supreme Court declared ultra vires.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai: In the absence of general guidelines from the Reserve Bank of India (RBI), State Bank of India (SBI), on behalf of the lenders\u2019 consortium, has sought special permission from the central bank for conversion of debt into equity in Jet Airways (India) Ltd. This comes after the Supreme Court quashed the RBI\u2019s 12 February circular allowing such conversions in companies with negative net worth. SBI, on behalf of the lenders\u2019 consortium, had earlier proposed to convert the airline\u2019s debt into equity for a notional value of \u20b91 for a 51% stake in the distressed company. This move was based [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[188,139,130],"tags":[],"class_list":["post-269817","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-live-mint","category-live-mint","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/269817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=269817"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/269817\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=269817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=269817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=269817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}