The National Company Law Tribunal (NCLT) has instructed Jet Airways’ Committee of Creditors (CoC) to release the interim amount as required by the resolution professional (RP) of the grounded airline, so that the corporate insolvency resolution process (CIRP) is completed and the assets of Jet are not devalued.
Further, the bench comprising Bhaskara Pantula Mohan and Rajesh Sharma directed the CoC to at least pay the amount by January 20, or the tribunal will initiate contempt proceedings against the defaulting members.
Jet Airways (India) is India’s premier international airline, which operates flights to India and overseas.
