No resolution plan yet for Jet Airways; lenders to take a call on March 12

Attempts to revive Jet Airways have attained a lifeless finish, as it did not get any resolution program from its suitors till the final day of program submission.

The committee of collectors (CoC) of Jet is set to satisfy on Thursday to acquire a simply call on the upcoming class of action, which include liquidating the business.

The resolution specialist has not obtained any proposal or expression of curiosity from suitors, which would permit him to seek a further more extension. Also, the 270 working day company insolvency resolution system (CIRP) of the business will come to an finish in the second week of March.

Underneath the insolvency and bankruptcy code (IBC), the amended greatest time limit for completion of CIRP has been set at 330 times, which includes the litigation time period.

Russia-primarily based Far East Growth Fund, New Delhi-primarily based Prudent ARC and South The usa-primarily based Synergy

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