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Jet Airways crisis: Court-appointed interim resolution professional gets claims worth Rs 24000 crore

The total dues the bankrupt domestic carrier Jet Airways owes to various creditors can be much more than the often quoted Rs 15,000 crore number.

Published: 19th July 2019 07:38 AM  |   Last Updated: 19th July 2019 07:38 AM   |  A+A-

Jet Airways

Jet Airways aircrafts (File | Reuters)

By Express News Service

NEW DELHI:  The total dues the bankrupt domestic carrier Jet Airways owes to various creditors can be much more than the often quoted Rs 15,000 crore number.

The court-appointed interim resolution professional (IRP) handling Jet’s insolvency has received claims of more than Rs 24,000 crore from its lenders, vendors, agents and employees.

The IRP has admitted 33 claims from lenders worth Rs 8,462 crore and is verifying Rs15,044 crore claims from operational creditors and staff. IRP Ashish Chhawchharia of Grant Thornton, in a notification, has said that only claims related to Jet are being considered and those of subsidiary JetLite will not be accepted.

Jet had suspended its operations on April 17 and after an extensive investor search, its creditors opted for bankruptcy proceeding last month. The National Company Law Tribunal has asked the IRP to complete the process in 90 days. Jet’s committee of creditors is expected to invite fresh expressions of interest by July 20. 

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