Wednesday, July 31, 2019

Jet Airways lenders’ panel to meet on August 1

The Resolution Professional (RP) appointed for the debt-strapped Jet Airways informed the stock exchanges on Tuesday that the second Committee of Creditors (CoC) meeting is scheduled for August 1.

The company was dragged to the insolvency court by its lead lender, State Bank of India, on June 20. The Mumbai Bench of the National Company Law Tribunal (NCLT) admitted the petition under the Insolvency and Bankruptcy Code (IBC).

In the previous hearing, on July 23, the NCLT directed Jet Airways’ RP to discuss the salary dues of its pilots and other staff with the CoC after employee associations moved a plea to release at least one month’s salary. The tribunal also directed the RP to submit a progress report at the next hearing, on August 8.
30/07/19 Business Line
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