Aviation Jet Airways crisis: Lenders keen on non-IBC resolution in case bidding process fails Updated : April 22, 2019 07:31 AM IST If the bidding process fails, lenders would favour a resolution for the debt-ridden Jet Airways outside the Insolvency and Bankruptcy Code (IBC) framework. Under the Code, the National Company Law Tribunal's (NCLT) approval is required for initiating the process, wherein the resolution would be market-linked and time-bound. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.