Wednesday, June 26, 2019

Jet Airways employees evicted from corporate headquarters: Report

The employees of Jet Airways were evicted out of their corporate headquarters despite a moratorium order by the National Company Law Tribunal (NCLT), as per a report in The Economic Times.

The report quoted a source saying that the eviction, which took place on the night of June 25, occurred as the airline did not renew its lease agreement with owners of Siroya Centre, located in Andheri (east) in Mumbai. After the eviction, the website of commercial real estate services firm JLL, also showed that the property was available on a commercial lease.

The report also noted that the distressed airline is undergoing insolvency proceedings, and the NCLT has ordered a moratorium on all its all claims, proceedings, cases and notices. This meant that the eviction may face legal consequences.
The Insolvency Resolution Professional (IRP), Ashish Chhawchharia of Grant Thornton, and his team were also working from these offices and may get a court order or file a police complaint to stall the eviction.
26/06/19 Moneycontrol
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