The Mumbai bench of the National Company Law Tribunal has deferred the Jet Airways insolvency hearing to 20 June 2019, CNBC TV-18 reported. The NCLT was to take up the matter on Wednesday as SBI-led consortium of lenders moved the tribunal for insolvency proceedings against Jet Airways. SBI had finally applied for insolvency earlier this week under section 7 of Insolvency and Bankruptcy which deals with financial creditors. State Bank of India had said that the lenders were forced to drag the airline to NCLT as they had waited long for the resolution plan to materialise. Moreover, the one prospective investor in Jet Airways also demanded SEBI exemption which will work better with IBC in the picture. Jet Airway owes over Rs 8,500 crore to the 26 lenders.<\/p>\n
Two of Jet Airways\u2019 operational creditors, Shaman Wheels and Gaggar Enterprises, earlier moved NCLT on 10 June 2019 and applied for insolvency proceedings against the Naresh Goyal-founded airline. However, the Mumbai bench of NCLT adjourned the same to further hearing on 20 June.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Mumbai bench of the National Company Law Tribunal has deferred the Jet Airways insolvency hearing to 20 June 2019, CNBC TV-18 reported. The NCLT was to take up the matter on Wednesday as SBI-led consortium of lenders moved the tribunal for insolvency proceedings against Jet Airways. SBI had finally applied for insolvency earlier this week under section 7 of Insolvency and Bankruptcy which deals with financial creditors. State Bank of India had said that the lenders were forced to drag the airline to NCLT as they had waited long for the resolution plan to materialise. Moreover, the one prospective […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,197,138],"tags":[],"class_list":["post-279046","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-roads-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/279046","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\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=279046"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/279046\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=279046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=279046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=279046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}