# In the matter of Jet Airways (India) Ltd. MA 3387, 3412 & 4018-2019 & IA 253,514,1158,1162,1741,2039,2115,2268,2274,2301,2305 & 2480-2020 & IA 342,434,615,642,690,764,984,1486,1871,1925& 2906-2021 & IA 125-2022 in n CP(IB)2205-MB-2019

> NCLT judgment dated 2022-01-20. Citation: TCN-2022-NCLT-04398. The document pertains to several applications filed in the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 20 Jan 2022
- **Citation:** TCN-2022-NCLT-04398
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/jet-airways-india-ltd-ma-3387-3412-4018-2019-ia-25351411581162174120392115226822-7482c270

## Summary

### Background

The document pertains to several applications filed in the National Company Law Tribunal (NCLT), Mumbai Bench, related to the insolvency resolution process of Jet Airways. These applications include matters concerning the Jet Aircraft Maintenance Engineers Welfare Association (JAMEWA), seeking clarity on settlement with employees, and an application seeking an extension of the effective date for the implementation of the approved Resolution Plan. The Resolution Professional (RP) is no longer managing the affairs, which are now overseen by the Monitoring Committee (MC).

## Facts

The case involves multiple applications related to the Corporate Insolvency Resolution Process (CIRP) of Jet Airways. Key facts include: 1) JAMEWA filed an application seeking clarity on employee settlements. 2) The Resolution Professional (RP) is no longer managing Jet Airways' affairs; the Monitoring Committee (MC) is now responsible. 3) An application (IA 2906/2021) sought to extend the effective date for implementing the approved Resolution Plan. 4) The Resolution Plan was approved on 22.06.2021. 5) The initial effective date was to be implemented from 22 December 2021. 6) The Committee of Creditors (CoC) did not object to extending the effective date. 7) The court considered the terms and conditions of the approved Resolution Plan. 8) A list of other cases

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## Issues and analysis

### Issue 1: Whether the Monitoring Committee should review the prayer regarding certain payments which is …

**Ratio:** The Monitoring Committee (MC) is responsible for managing the affairs of the Corporate

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**Reasoning:** The court reasoned that since the RP is no longer managing the affairs of Jet Airways,

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**Interpretation:** This interpretation clarifies the roles and responsibilities of the RP and the

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**Application:** The court applied this principle by directing the MC to review the payment

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## Parties

- **Judges:** P.N. Des…; K.K. V…
- **Appellants:** State Bank of…
- **Respondents:** Jet Air…

## Timeline

- **2021-12-22 — Earlier H…**: The Application was…
- **2021-06-22 — Resolution Plan…**: Resolution Plan…

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