The Liquidator of Jet Airways (India) Limited filed an Interlocutory Application (IA) under Section 60(5) of the IBC and Rule 11 of the NCLT Rules, seeking to set aside termination notices issued by Maharashtra Industrial Development Corporation (MIDC) for two plots (EL236 and OS-12/1) in Navi Mumbai. These plots were allotted to the Corporate Debtor, and the full lease premium was paid, but the lease agreement was not formally executed. MIDC cancelled the allotment and forfeited the premium, citing the Corporate Debtor's failure to execute the lease agreement and alleged encroachment by a third party.
IA NO. 5460 OF 2025 was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 and Rule 11 of The National Company Law Tribunal Rules, 2016.
The Applicant is the Liquidator of Jet Airways (India) Limited ('Corporate Debtor').
The Liquidator was appointed by the Tribunal vide Order dated 26.11.2024.
The Corporate Insolvency Resolution Process ('CIRP') for Jet Airways commenced on 20.06.2019.
A Resolution Plan was approved by the Committee of Creditors (CoC) on 17.10.2020 and by the Tribunal on 22.6.2021.
The approved resolution plan failed to be implemented.
The Hon'ble Supreme Court directed the Corporate Debtor to be liquidated on 7.11.2024.
The Tribunal passed an order for liquidation on 26.11.2024.
…Sign in to view the parties.
Allotment letter for…
Allotment letter for…
The Liquidator of Jet Airways (India) Limited filed an Interlocutory Application (IA) under Section 60(5) of the IBC and Rule 11 of the NCLT Rules, seeking to set aside termination notices issued by Maharashtra Industrial Development Corporation (MIDC) for two plots (EL236 and OS-12/1) in Navi Mumbai. These plots were allotted to the Corporate Debtor, and the full lease premium was paid, but the lease agreement was not formally executed. MIDC cancelled the allotment and forfeited the premium, citing the Corporate Debtor's failure to execute the lease agreement and alleged encroachment by a third party.
IA NO. 5460 OF 2025 was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 and Rule 11 of The National Company Law Tribunal Rules, 2016.
The Applicant is the Liquidator of Jet Airways (India) Limited ('Corporate Debtor').
The Liquidator was appointed by the Tribunal vide Order dated 26.11.2024.
The Corporate Insolvency Resolution Process ('CIRP') for Jet Airways commenced on 20.06.2019.
A Resolution Plan was approved by the Committee of Creditors (CoC) on 17.10.2020 and by the Tribunal on 22.6.2021.
The approved resolution plan failed to be implemented.
The Hon'ble Supreme Court directed the Corporate Debtor to be liquidated on 7.11.2024.
The Tribunal passed an order for liquidation on 26.11.2024.
…Allotment letter for…
Allotment letter for…