Jet Airways will not fly again as none of the three suitors, which had expressed interest in the grounded Jet Airways, submitted a resolution plan. The deadline for bid submission closed on Monday.
Jet grounded its operations in April last year and is undergoing bankruptcy proceedings at the National Company Law Tribunal (NCLT), Mumbai. It was dragged there by its debtors led by State Bank of India over unpaid dues.
Advisory firm Grant Thornton India’s Ashish Chhawchharia was appointed as the Resolution Professional (RP) by Jet’s lenders.
A consortium of the Russian government-backed Far East Development Fund, in partnership with Enso Group, Prudent ARC and Synergy Group had submitted their Expression of Interest (EoI) with the resolution professional last month for the third time.
This story is from the March 10, 2020 edition of The Hindu Business Line.
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This story is from the March 10, 2020 edition of The Hindu Business Line.
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