Motilal Oswal
  • SENSEX
    NIFTY 50
Motilal Oswal
VIDEOS
Aviation

NCLT to hear SBI's insolvency plea against Jet Airways today

Updated : June 20, 2019 08:57 AM IST

The National Company Law Tribunal (NCLT) will hear the insolvency petition against Jet Airways filed by a consortium of lenders led by State Bank of India today.

The lenders had filed the plea on June 18 and appointed Ashish Chhawchharia, head of restructuring services at Grant Thornton, as the resolution professional for Jet Airways, CNBC-TV18 reported, citing sources.

The lenders met Monday to decide on the course of action for the airline which last operated its flight in April before shutting down operations after failing to secure emergency funding.

The airline owes Rs 8,000 crore to lenders. Other key lenders to Jet Airways are Punjab National Bank, Bank of India, Yes Bank and ICICI Bank.

The tribunal will also hear an insolvency plea filed by two operational creditors of the airline Gaggar Enterprises and Shaman Wheels.

primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV