Hinduja Group is keen on exploring bidding terms with Jet Airways\u2019s investor Etihad as the lenders desperately seek a resolution plan for the beleaguered airline, ET Now reported. Hinduja Group called on lenders in London this weekend to discuss terms and conditions for bidding under Insolvency and Bankruptcy Code, the media channel reported, adding that the committee of creditors may seek expression of interest (EoI) for Naresh Goyal-founded Jet Airways as early as this week. Hinduja Group has been in talks with the lenders for an out of court settlement as well.<\/p>\n
The diversified business group had put certain conditions and sought assurances from the government before it actually invests in the airline. According to media reports, the group does not wish to be dragged into cases pertaining to financial irregularities in the airline that may have happened during Naresh Goyal tenure. Also, it wants to ensure that the group does not suffer in any manner after it makes an investment in Jet Airways. <\/p>\n
Earlier in May, Hinduja Group said that it is considering a bid in Jet Airways. However, it didn\u2019t divulge information on whether the diversified conglomerate plans to take a haircut on loans of about Rs 8,400 crore. The billionaire brothers Gopichand and Srichand Hinduja-led group, if puts its weight behind Jet Airways, may bring some respite to the consortium of lenders and Jet Airways\u2019 employees who have not been given salary of about 4 months. Gopichand and Srichand Hinduja, are among the richest people in the United Kingdom. <\/p>\n
Jet Airways suspended its operations on 17 April 2019 and announced a temporary shutdown of the airline after months of struggling to stay afloat. Recently, the State Bank of India-led consortium of lenders dragged the airline to the National Company Law of Tribunal (NCLT) to get the Insolvency and Bankruptcy proceedings against Jet Airways initiated. SBI also said that it was compelled to drag Jet Airways to the court after nothing concrete happened in the resolution process. It had also said that the single prospective investor for Jet Airways has sought SEBI exemption, which will work better under IBC.<\/p>\n","protected":false},"excerpt":{"rendered":"
Hinduja Group is keen on exploring bidding terms with Jet Airways\u2019s investor Etihad as the lenders desperately seek a resolution plan for the beleaguered airline, ET Now reported. Hinduja Group called on lenders in London this weekend to discuss terms and conditions for bidding under Insolvency and Bankruptcy Code, the media channel reported, adding that the committee of creditors may seek expression of interest (EoI) for Naresh Goyal-founded Jet Airways as early as this week. Hinduja Group has been in talks with the lenders for an out of court settlement as well. The diversified business group had put certain conditions […]<\/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":[229],"tags":[],"class_list":["post-279822","post","type-post","status-publish","format-standard","hentry","category-civil-aviation"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/279822","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=279822"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/279822\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=279822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=279822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=279822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}