Two of the four shortlisted bidders’ consortia submitted financial bids for the grounded Jet Airways to the resolution professional ahead of Tuesday’s deadline, sources said. The carrier has been under insolvency proceedings at NCLT since June 2019.
One consortium comprises Kalrock Capital and U.A.E.-based businessman Murari Lal Jalan, while the other includes Flight Simulation Technique Centre Pvt. Ltd., Big Charter Pvt. Ltd. and Imperial Capital Investments LLC.
The Resolution Professional has been directed to come up with the resolution plan by August 31, 2020 before the NCLT failing which the airline will go for liquidation.
The details on the financial bids are yet to be disclosed. Both the bidders have offered to restart the airline with leased aircraft.
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