{"id":279061,"date":"2019-06-19T06:44:01","date_gmt":"2019-06-19T06:44:01","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=279061"},"modified":"2019-06-19T06:44:01","modified_gmt":"2019-06-19T06:44:01","slug":"sbi-moves-nclt-against-grounded-jet-airways","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/sbi-moves-nclt-against-grounded-jet-airways\/","title":{"rendered":"SBI moves NCLT against grounded Jet Airways"},"content":{"rendered":"<p>State Bank of India (SBI) on Tuesday moved the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against Jet Airways, only days after two operational creditors \u2014 Shaman Wheels and Gaggar Enterprises \u2014 filed similar petitions before the tribunal under Section 9 of the Insolvency and bankruptcy Code, 2016. SBI, represented by Cyril Amarchand Mangaldas, has filed a petition under Section 7 of the IBC, that allows financial creditor to file an application against the corporate debtor.<\/p>\n<p>The NCLT\u2019s Mumbai bench has adjourned the matter to June 19, while two applications filed by operational creditors were set to be heard on June 20. SBI\u2019s move to refer Jet Airways under the IBC comes as no surprise, after SBI in a statement released on Monday said, \u201cAfter due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a conditional bid was received.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State Bank of India (SBI) on Tuesday moved the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against Jet Airways, only days after two operational creditors \u2014 Shaman Wheels and Gaggar Enterprises \u2014 filed similar petitions before the tribunal under Section 9 of the Insolvency and bankruptcy Code, 2016. SBI, represented by Cyril Amarchand Mangaldas, has filed a petition under Section 7 of the IBC, that allows financial creditor to file an application against the corporate debtor. The NCLT\u2019s Mumbai bench has adjourned the matter to June 19, while two applications filed by operational creditors were set to be [&hellip;]<\/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":[196,130,138],"tags":[],"class_list":["post-279061","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-financial-express","category-newspapers","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/279061","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=279061"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/279061\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=279061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=279061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=279061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}