HINDUJA
GROUP STILL INTERESTED IN JET AIRWAYS AFTER APPROACH BY GOVT, BANKS; RESOLUTION
PROFESSIONAL INVITES FRESH EOI FOR DEFUNCT AIRLINE.
The London based Hinduja
group has keen interest towards the defunct airline Jet airways. Gopichand. P,
co-chairman of Hinduja group said that many government authorities and bank had
approached them for the survival of this airways. As they are having good relations
in Middle East and Gulf they took initiative to support and help them.
On Sunday Ashish
Chhawchharia, Jet-airways resolution professional invited Expression of
Interests (EOI) from new parties. The
committee of creditors already voted in favor.
The last date for the submission of EOI will be on January 6 and the
resolution list will be declared on January 9.
South America's Synergy Group wants more time
for due diligence and The Committee of
Creditors (COC) enquired for the extension of corporate insolvency resolution
process (CIRP) of Jet Airways. Bhaskara Pantula, Mohan and Rajesh Sharma
approved for the extension till 180 days. On Thursday, Synergy Group Jet
Airways had sought more time to take a decision on investing in grounded
Airline. They wanted to ensure that whether they are taking writing decision or
not as there is risk involved in investing in a
grounded airline. A representative of Synergy group said that they are
able to understand the urgency of the issue , but until and unless they discuss
with the stakeholders they cant arrive at a concluded decision. He also added that he sees a bright future in
Jet Airways when some of the issues can be resolved.
The criteria's are first of
all they should be free from all the legal liabilities Jet Airways had,
secondly there should be an Indian Partner, and finally they expect getting back
Jet’s airport slots, especially for the domestic slot.
The NCLT asked the
Committee of Creditors of Jet Airways to expedite their decision to float EOI
and the resolution professional requested for 3 weeks time. The Government
had allotted hundreds of airport slots owned by Jet Airways to other carriers
when they busted in mid of April.
The cash – strapped company
was the first airliner which undergone bankruptcy, when the petition filed by
State Bank of India (SBI) on behalf of 26 lenders on 20th June was
admitted by NCLT.
The total liability of airline is almost 15000
crores including unpaid salaries and
vendor dues. Lenders to Jet Airways are seeking for suitable investors to
recover from dues.
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