Indiaherald Group of Publishers P LIMITED

close save
crop image
Sat, Sep 14, 2019 | Last Updated 5:51 pm IST

Menu &Sections


Jet Airways may go into liquidation

Jet Airways may go into liquidation
Jet Airways may go into liquidation

As per report the troubled private airline Jet Airways may go into liquidation since no serious offer has been received for the airline that has run up huge debts and its operations have been shut for over four months and there were some expressions of interest received by the Committee of Creditors (CoC) and the resolution professional (RP). However, most of them either withdrew or conveyed their decision not to pursue with the case.

Jet Airways may go into liquidation

Furthermore some of the serious contenders were Etihad Airline which already had an association with Jet Airways under Naresh Goyal. Meanwhile the Vedanta Group’s Volcan Investments was another company that showed interest but backed out and apart from these there were hardly any proposals worth being taken up at the level of CoC.

Moreover in terms of the timeframe, the judge hearing the Jet Airways case had given a 90-day window to the CoC to find a buyer for the airline and this was in June and that 90-day period gets over in the next few days. The creditors are expected to meet shortly and as on date it appears the only option in front of them will be to bind the airline over for insolvency. Presently the question that many interested observers are asking is what happens to the creditors are not of Indian origin and whether they would be bound by the running of the National Company Law Tribunal in such matters?

Jet Airways may go into liquidation
5/ 5 - (1 votes)
Add To Favourite
More from author
Social media is abuzz with speculations about MS Dhoni's retirement
Is Swami Chinmayananad ready for SIT questioning?
PM Modi makes his visit to US from September 21 to 27
HC orders for ex-gratia of Rs.5 Lakh to family of Subhashree
Is Jet Airways insolvency case moving in positive direction?
Will PM Modi accept suggestions given by Manmohan Singh in reviving economy?
MK Stalin asks DMK members not to put hoardings after death of Subhashree
Bengal Durga Pooja organizers reeling due to economic slump
Apple will launch its OTT service from iPhone to iPad, iPod and iMac at Rs 99 a month
Uber & Ola not reason for Auto sales down
Will there be indefinite strike by Bank Unions?
Apply for various posts in North Central Railway Recruitment
What Revanth Reddy thinks about Pawan Kalyan?
Visitors from NASA to visit ISRO
P Chidambaram moved an application to surrender to ED in INX media case
5 Acres of Land gifted to PV Sindhu by AP CM Jagan Mohan Reddy
PM Modi inaugurated Series of Welfare Schemes at Ranchi
UK Work Visa Rule relaxed for Indian students
23 year old techie, run over by tanker after an AIADMK hoarding fell on her
5% Tariff hike on Chinese imports imposed by Trump
DDCA renamed Feroz Shah Kotla stadium
Reliance JioFiber's entry stunned Tata Sky & Dish TV
Why Karnataka Deputy CM says Accidents causes because of Good Roads?
About the author

Nanotechnology Degree Holder. Movie Geek. Crazy about comics and cartoons. Hardcore Cricket Lover. Photoshop Professional