About 1,69,983 sq. ft of prime property belonging to Jet Airways at the Bandra Kurla Complex (BKC) has been put up for auction at a reserve price of ₹490 crore. The property was mortgaged in favour of Housing Development and Finance Corporation which had tried to auction the same before Jet Airways was brought under insolvency proceedings in June 2019. The auction will be conducted on June 26.
A notice of the auction issued by Resolution Professional Ashish Chhawchharia said the Committee of Creditors, in its meeting held on April 24, passed a resolution for selling immovable properties of the company and distribute the proceeds. A June 11 NCLT order had given approval for the sale.
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