Thursday, June 27, 2019

Jet staff moved to smaller space in Mumbai headquarters as airline fails to renew lease contract

Despite a complete moratorium of all claims, proceedings, cases and notices to Jet Airways as it has been admitted for insolvency by the National Company Law Tribunal, its employees were evicted out of major portion of its corporate headquarters at Siroya Centre in Mumbai on Tuesday night. The reason for the eviction was that the airline had failed to renew its lease agreement.
The action could attract legal action if the carrier’s interim resolution professional Ashish Chhawchharia files an application before the Mumbai bench of the NCLT. However, sources said that the IRP has reached a compromise with the owners on Wednesday wherein a small portion of the office would continue to be occupied by the Jet employees. Even the IRP is functioning from this office.
However, all six units of the property are up for lease on JLL’s website, which acts as an intermediary between property owners and interested parties.
“On Tuesday night (June 25), some individuals came and tried to forcibly take possession of the office premises, but some semblance of normalcy has returned. Some employees, the IRP continue to work out of Siroya Centre,” one of employee said.
Siroya Centre, located in Andheri (East), has been the corporate headquarters of Jet for around a decade.
27/06/19 Financial Express
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