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1-min read

Initial Bids for Insolvent Jet Airways to End on August 3

Under the insolvency proceedings, Expression of Interest (EoI) for the airline can be submitted till August 3 and the list of prospective applicants would be issued on August 6.

PTI

Updated:July 20, 2019, 10:33 PM IST
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Initial Bids for Insolvent Jet Airways to End on August 3
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New Delhi: The insolvency professional managing the affairs of Jet Airways has sought initial bids for the bankrupt airline till August 3. The once-storied carrier shuttered its operations on April 17 and lenders moved the National Company Law Tribunal (NCLT) to recover dues in June.

Under the insolvency proceedings, Expression of Interest (EoI) for the airline can be submitted till August 3 and the list of prospective applicants would be issued on August 6, according to a public notice.

The final applicants would be asked to submit their resolution plans by September 5. As per the notice, resolution plan would be submitted to the NCLT for approval on September 20. Claims worth Rs 24,887 crore have been received by the insolvency resolution professional.

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