Wednesday, May 06, 2020

Jet Airways: Committee of Creditors to meet on May 6 to decide further steps

Mumbai: The Committee of Creditors of Jet Airways is set to meet on Wednesday to decide the possible way forward for the debt-strapped airline.

The resolution professional appointed to the airline informed the exchanges, “the Eleventh Meeting of Committee of Creditors (CoC) of Jet Airways (India) Limited is scheduled to be held on May 06, 2020 at 03: 00 P.M. IST, for which notice to the members of the CoC has been sent on May 04, 2020.”

The lenders had taken 90 more days to find a buyer under the NCLT-led insolvency process before the epidemic broke out on March 15.

Last month, the Insolvency and Bankruptcy Board of India had said that the lockdown period will not be counted in the timeline set to finalise resolution plans for stressed companies under the insolvency process, providing in a breather for lenders, bidders and resolution professionals.
06/05/20 Business Line

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