NEW DELHI: Amid delay in re-launching the airline, insolvency appellate tribunal NCLAT on Friday directed Jet Airways’ new owner -- Jalan-Kalrock consortium -- to pay the unpaid provident fund and gratuity dues of employees of the carrier.
The National Company Law Appellate Tribunal (NCLAT) has directed the former resolution professional to “compute the payments to be made to workmen and employees within one month from today’’ and communicate the same to the consortium to take steps for the payment.
“Successful resolution applicants are directed to make payment of unpaid provident fund to the workmen till the date of insolvency commencement, after deducting the amount already paid towards the provident fund in the resolution plan to the workmen,’’ a two-member NCLAT bench said.
The appellate tribunal also said the workmen are entitled to payment of their gratuity dues as on the insolvency commencement date, after adjusting any amount towards gratuity paid under the resolution plan. The consortium won the bid through an insolvency resolution process for Jet Airways, which had stopped operations in April 2019 due to the financial crisis.
Jet gratuity dues
NCLAT said the workmen are entitled to payment of their gratuity dues as on insolvency commencement date, after adjusting any amount towards gratuity paid under the resolution plan