{"id":342481,"date":"2020-03-19T11:19:13","date_gmt":"2020-03-19T05:49:13","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=342481"},"modified":"2020-03-19T12:08:26","modified_gmt":"2020-03-19T06:38:26","slug":"jet-gets-nclt-nod-for-90-day-extension-to-resolution-process","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/jet-gets-nclt-nod-for-90-day-extension-to-resolution-process\/","title":{"rendered":"Jet gets NCLT nod for 90-day extension to resolution process"},"content":{"rendered":"<p>The Mumbai Bench of the National Company Law Tribunal (NCLT) has approved a plea by Jet Airway\u2019s lenders seeking an extension to the corporate insolvency resolution process (CIRP) process by another 90 days.<\/p>\n<p>\u201cToday (March 18) the plea moved by the Resolution Professional (of Jet Airways) was allowed. The judge has allowed the extensions of the CIRP by 90 days,\u201d said a person in the know. Advisory firm Grant Thornton India\u2019s Ashish Chhawchharia had been appointed as the Resolution Professional (RP) by Jet\u2019s lenders.<\/p>\n<p>The 270-day CIRP period of the grounded company ended on March 15. Under the provisions of the Insolvency and Bankruptcy Code (IBC), Jet can get a 60-day extension from the bankruptcy tribunal. The grounded airline\u2019s RP had proposed an extension of 90 days to the Committee of Creditors (CoC) last week.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Mumbai Bench of the National Company Law Tribunal (NCLT) has approved a plea by Jet Airway\u2019s lenders seeking an extension to the corporate insolvency resolution process (CIRP) process by another 90 days. \u201cToday (March 18) the plea moved by the Resolution Professional (of Jet Airways) was allowed. The judge has allowed the extensions of the CIRP by 90 days,\u201d said a person in the know. Advisory firm Grant Thornton India\u2019s Ashish Chhawchharia had been appointed as the Resolution Professional (RP) by Jet\u2019s lenders. The 270-day CIRP period of the grounded company ended on March 15. Under the provisions of [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-342481","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/342481","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=342481"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/342481\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=342481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=342481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=342481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}