The case involves multiple appeals against the order dated 22.06.2021 passed by the National Company Law Tribunal (NCLT), Mumbai Bench, approving the resolution plan submitted by 'Jalan Fritesch Consortium' for the Corporate Debtor, Jet Airways (India) Limited. The appeals were filed by workmen, employees, and operational creditors of Jet Airways, challenging the resolution plan primarily on the grounds of inadequate provisions for their dues, particularly provident fund, gratuity, and retrenchment compensation. The Corporate Debtor, Jet Airways (India) Limited, has been in airline operation since 1993 but stopped its operation on 17.04.2019. An application under Section 7 of IBC was filed by State Bank of India, which was admitted by NCLT on 22.06.2019, and Mr. Ashish
…Jet Airways (India) Limited faced insolvency proceedings initiated by State Bank of India under Section 7 of the IBC, admitted by NCLT on 22.06.2019. Ashish Chhawchharia was appointed as the IRP and later confirmed as the RP. The resolution plan submitted by Jalan Fritesch Consortium was approved by the CoC on 03.10.2020. The Adjudicating Authority approved the resolution plan on 22.06.2021. Several appeals were filed against this approval by workmen, employees, and operational creditors, primarily concerning the inadequate provision for their dues. The workmen's association, Jet Aircraft Maintenance Engineers Welfare Association, representing over 95% of the Aircraft Maintenance Engineers, submitted a claim of Rs.1,889,438,035/-, out of which the RP admitted
…Sign in to view the parties.
Jet Airways (India)…
Jet Airways (India)…
The case involves multiple appeals against the order dated 22.06.2021 passed by the National Company Law Tribunal (NCLT), Mumbai Bench, approving the resolution plan submitted by 'Jalan Fritesch Consortium' for the Corporate Debtor, Jet Airways (India) Limited. The appeals were filed by workmen, employees, and operational creditors of Jet Airways, challenging the resolution plan primarily on the grounds of inadequate provisions for their dues, particularly provident fund, gratuity, and retrenchment compensation. The Corporate Debtor, Jet Airways (India) Limited, has been in airline operation since 1993 but stopped its operation on 17.04.2019. An application under Section 7 of IBC was filed by State Bank of India, which was admitted by NCLT on 22.06.2019, and Mr. Ashish
…Jet Airways (India) Limited faced insolvency proceedings initiated by State Bank of India under Section 7 of the IBC, admitted by NCLT on 22.06.2019. Ashish Chhawchharia was appointed as the IRP and later confirmed as the RP. The resolution plan submitted by Jalan Fritesch Consortium was approved by the CoC on 03.10.2020. The Adjudicating Authority approved the resolution plan on 22.06.2021. Several appeals were filed against this approval by workmen, employees, and operational creditors, primarily concerning the inadequate provision for their dues. The workmen's association, Jet Aircraft Maintenance Engineers Welfare Association, representing over 95% of the Aircraft Maintenance Engineers, submitted a claim of Rs.1,889,438,035/-, out of which the RP admitted
…Jet Airways (India)…
Jet Airways (India)…