The case pertains to an application filed by the Resolution Professional (RP) under Section 30(6) of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking approval of the Resolution Plan submitted by the consortium of Mr. Murari Lal Jalan and Mr. Florian Fritsch (Jalan Fritsch Consortium / Resolution Applicant) for Jet Airways (India) Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated by the NCLT Mumbai Bench on 20.06.2019. Several attempts were made to invite Expression of Interest (EoI) from prospective resolution applicants (PRAs), but none resulted in a viable resolution plan until the Jalan Fritsch Consortium submitted their plan.
The Corporate Insolvency Resolution Process (CIRP) of Jet Airways (India) Limited was initiated on 20.06.2019 by the NCLT Mumbai Bench. Ashish Chhawchharia was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Several rounds of Expression of Interest (EoI) invitations were conducted, but no viable resolution plan was received until the Jalan Fritsch Consortium submitted their plan. The Resolution Plan submitted by Jalan Fritsch Consortium was approved by the CoC with a majority of 99.22% votes in favor. The plan includes provisions for payment to various stakeholders, including financial creditors, operational creditors, employees, and workmen. The plan also addresses the treatment of airport and parking
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Corporate Insolvency Resolution Process…
Ashish Chhawchharia was confirmed as the…
The case pertains to an application filed by the Resolution Professional (RP) under Section 30(6) of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking approval of the Resolution Plan submitted by the consortium of Mr. Murari Lal Jalan and Mr. Florian Fritsch (Jalan Fritsch Consortium / Resolution Applicant) for Jet Airways (India) Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated by the NCLT Mumbai Bench on 20.06.2019. Several attempts were made to invite Expression of Interest (EoI) from prospective resolution applicants (PRAs), but none resulted in a viable resolution plan until the Jalan Fritsch Consortium submitted their plan.
The Corporate Insolvency Resolution Process (CIRP) of Jet Airways (India) Limited was initiated on 20.06.2019 by the NCLT Mumbai Bench. Ashish Chhawchharia was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Several rounds of Expression of Interest (EoI) invitations were conducted, but no viable resolution plan was received until the Jalan Fritsch Consortium submitted their plan. The Resolution Plan submitted by Jalan Fritsch Consortium was approved by the CoC with a majority of 99.22% votes in favor. The plan includes provisions for payment to various stakeholders, including financial creditors, operational creditors, employees, and workmen. The plan also addresses the treatment of airport and parking
…Corporate Insolvency Resolution Process…
Ashish Chhawchharia was confirmed as the…