After the consortium of 26 bankers led by State Bank of India took Jet Airways to the National Company Law Tribunal (NCLT) to recover their dues, the lenders reportedly picked Ashish Chhawchharia of Grant Thornton India as the resolution professional (RP) for the airline's bankruptcy proceedings, said media reports.
The bankers to the now-grounded airline on Tuesday moved the NCLT to recover their dues of over Rs 8,500 crore. The tribunal will hear the matter on Wednesday.
Chhawchharia is heading the restructuring practice for Grant Thornton in India, according to Moneycontrol. Law firm Cyril Amarchand Mangaldas is the legal advisor to the SBI-led consortium for the Insolvency and Bankruptcy Code (IBC) proceedings, the report said quoting sources.
Chhawchharia is an Insolvency Professional registered with the Insolvency and Bankruptcy Board of India (IBBI), according to a report in Mint.
Jet Airways crisis: Lenders consortium picks Grant Thornton as resolution professional for cash-strapped airlineRepresentational image. Reuters
"Grant Thornton will assist the RP in finding a prospective buyer for Jet Airways and recover the outstanding for the lenders," the report said, quoting a person in the know of the matter.
19/06/19 First Post
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The bankers to the now-grounded airline on Tuesday moved the NCLT to recover their dues of over Rs 8,500 crore. The tribunal will hear the matter on Wednesday.
Chhawchharia is heading the restructuring practice for Grant Thornton in India, according to Moneycontrol. Law firm Cyril Amarchand Mangaldas is the legal advisor to the SBI-led consortium for the Insolvency and Bankruptcy Code (IBC) proceedings, the report said quoting sources.
Chhawchharia is an Insolvency Professional registered with the Insolvency and Bankruptcy Board of India (IBBI), according to a report in Mint.
Jet Airways crisis: Lenders consortium picks Grant Thornton as resolution professional for cash-strapped airlineRepresentational image. Reuters
"Grant Thornton will assist the RP in finding a prospective buyer for Jet Airways and recover the outstanding for the lenders," the report said, quoting a person in the know of the matter.
19/06/19 First Post
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