# In the matter of Jet Airways (India) Limited

> NCLT judgment dated 2024-01-02. Citation: TCN-2024-NCLT-03356. This is an application (MA 4018/2019) filed by the Resolution Professional of Jet Airways…

- **Court:** NCLT
- **Order date:** 2 Jan 2024
- **Citation:** TCN-2024-NCLT-03356
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/jet-airways-india-limited-13f4a6c3

## Summary

### Background

This is an application (MA 4018/2019) filed by the Resolution Professional of Jet Airways (India) Limited, the Corporate Debtor, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions against the Commissioner of Customs (Import) and other respondents. The applicant seeks directions to prevent the respondents from disposing of the Corporate Debtor's assets held in customs bonded warehouses and to cooperate in handing over these assets. The respondents are the Commissioner of Customs (Import) with offices in Chennai, New Delhi, Raigad, and Mumbai.

## Facts

The Resolution Professional of Jet Airways (India) Limited filed an application seeking directions against the Commissioner of Customs (Import) and other respondents regarding the disposal of assets held in customs bonded warehouses. The Corporate Insolvency Resolution Process (CIRP) commenced on 20.6.2019. The applicant sought to prevent the disposal of the Corporate Debtor's assets and to ensure their handover. The respondents include the Commissioner of Customs (Import) with offices in Chennai, New Delhi, Raigad, and Mumbai. The Corporate Debtor had imported goods under three Bills of Entry, pertaining to Lot Nos. 20/2020, 23/2020, and 27/2020. Lots 20/2020 and 23/2020 had already been auctioned by Respondent No. 1 before the CIRP commenced. The final notice for Lot

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## Issues and analysis

### Issue 1: Whether the customs authorities can proceed with the auction of goods imported by the Corporate …

**Ratio:** The ratio is based on the Supreme Court's judgment in Sundaresh Bhatt v. CBIC, which

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**Reasoning:** The court reasoned that the final notice for Lot No. 27/2020 was issued after the

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**Interpretation:** The interpretation is that the IBC's moratorium provisions restrict the customs

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**Application:** The ratio and reasoning were applied to the specific facts of the case, leading

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## Parties

- **Judges:** Prabhat…; V.G. B…
- **Appellants:** Ashish Chhawchhari…
- **Respondents:** Jet Airways…; Commissioner of…

## Timeline

- **2019-06-20 — Commencement…**: Corporate Insolvency Resolution Process (CIRP)…
- **2019-08-28 — Intimation to…**: Applicant intimated Respondent Nos. 1, 2, 3, and 4 of the commencement of CIRP and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 19(2) — Personnel to extend co-operation to interim…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-19)

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