Goyal had stepped down as Chairman in March
In what could be a dramatic comeback in less than a month, Jet Airways' founder and former Chairman Naresh Goyal may submit an expression of interest (EoI) for the distressed airline.
Sources close to the development told Moneycontrol that Goyal is expected to submit an EoI on April 11. But what's not yet clear is if he is joining the fray alone, or partnering with others.
Goyal had stepped down as Chairman of the airline on March 25 as part of a deal with lenders. According to the plan, banks were then expected to bring in Rs 1,500 crore in emergency funding, and then look for a new owner.
Banks have, however, transferred just a small part of the funding, and instead called for an EoI from interested bidders looking to take control of Jet Airways.
While the deadline was set for April 10, SBI Capital, which is overseeing the bidding process, extended it by two days to April 12.
In a statement on April 10, SBI Capital said it has received some EoIs and has extended the deadline in an attempt to clear the way for more suitors.
Clarifying on the EoI guidelines, the lenders said they have now allowed restructuring of the debt and infusion of funds by way of loans or acquisition of up to 75 percent stake in the company.
