IRP admits Rs 24,887.93 crore of claims against grounded Jet Airways

According to the list, workmen and employees dues worth Rs 443 crore, authorised representative of workmen and employees claims of Rs 735 crore and other creditors (other than financial and operational creditors) Rs 1,105 crore were admitted by the IRP.

On June 21, 2019, lenders to Jet Airways have named Ashish Chhawchharia of Grant Thornton India as the resolution professional for the airline’s bankruptcy proceedings.

The NCLT had on June 20 admitted the insolvency petition filed by the lenders against Jet Airways and directed the resolution professional to try to finish the process within three months.

The tribunal had cited "national importance" of the airline while directing a faster resolution process, than 180 days allowed under the bankruptcy code.

Before it was sent to the NCLT, the banks, which own half of the shares in the airline had sought expressions of interest from both strategic and financial investors to sell between 31.2 and 75 percent stake.

The bankers had received four non-binding EoIs in April, while Etihad Airways, which owns 24 percent in the carrier, had submitted a conditional bid. But none of the bidders moved forward. Later late last month, the employees

had moved the NCLT seeking to take over the airline with an unknown entity.