Thursday, August 29, 2019

Jet Airways to relinquish HQ building in 45 days

Mumbai: Jet Airways will move out of its headquarters here in 45 days following an agreement between the property owners and the resolution professional (RP) appointed to oversee the airline’s insolvency process.
The owners of Siroya Centre had approached the Mumbai Bench of the National Company Law Tribunal (NCLT), wanting Jet to be evicted from the property on account of non-payment of dues.
The Bench was informed on Wednesday that the property owners, Lucky Star, and the RP had come to a consensus on the same.
The RP, Ashish Chawcharia, also informed the court that he was in constant conversation with South America’s Synergy Group, which had submitted an expression of interest (EoI) last week. To accommodate their bid, the deadline to submit the EoI has been extended to August 31.
“I am positive of this EoI. I am going to be meeting the stakeholders of the company to discuss the case further,” Chawcharia told the NCLT.
Meanwhile, the counsel representing one of the employee unions raised concerns over pending salary issues.
Chhawchharia informed the court that they were mindful of the fact that careers were at stake and they were doing what they could to keep the company as a going concern.
“Part payments for 200 employees have been made. We have deposited Provident Fund till March. We will also give TDS certificates by Thursday,” he added.
29/08/19 Forum Gandhi/Business Line
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