Jet Airways gets 2 bids, will it fly again?

    Indian carrier Jet Airways has received judgment plans from two of the four shortlisted bidders, which will be placed before the Committee of Creditors (CoC) for deliberation. The grounded carrier said this in their statement on Thursday. The bidders were shortlisted in the fourth round of invitation of bids.

    In the fourth round of bidding, and what could be the last attempt at saving the airline, the two alliances of investors placed bids with the resolution professional of the grounded airline.
    The two bidders are – an association of UK-based Kalrock Capital and a UAE-based enterpriser Murari Lal Jalan, A coalition of Haryana-based Flight Simulation Technique Centre.

    As many as 12 representatives had come forward in the fourth round of bidding for the airline and submitted Declarations of Interest, but only 4 of them made the qualification cut.
    The two of the 4, did not submit bids as the deadline ended. It included a Canadian entrepreneur by the name of Sivakumar Rasiah.
    The airline has received claims of over Rs 37,300 crores under NCLT from various creditors. Of these, the resolution professional has admitted allegations of over Rs 15,900 crores. This also includes claims of over Rs 8,000 crores from a clutch of banks led by State Bank of India, Yes Bank, Punjab National Bank, and others.

    In April 2019, Jet Airways was grounded after lenders failed to arrive at redesigning a plan. While in june last year, the airline sought resolution under the bankruptcy route.
    The airline was founded by businessman Naresh Goyal, who is now under the scanner of various government agencies for alleged mismanagement and diversion of funds related to Jet Airways

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