NEW DELHI: The deadline to submit expression of interest (EOI) to acquire
Jet Airways has been extended to next Saturday (August 10).
“On basis of requests received from prima-facie credible interested resolution applicants for some additional time, the deadline for submission of EOI is being provisionally extended (subject to formal ratification by the committee of creditors). The proposed extension is to ensure the objectives of the IBC (insolvency and bankruptcy code) are achieved and we are able to maximise the value of the assets of the corporate debtor and achieve a better outcome for all stakeholders in this fast-track process,” said Jet’s resolution professional Ashish Chhawchharia.
The deadline for submitting EOI in the ongoing corporate insolvency resolution process of Jet Airways was Saturday.
Jet and its lenders have been searching for new investors since its planes were grounded in April and staff left unpaid.
Lenders to the airline agreed on July 19 to provide interim financing to help it cover legal and other costs as bankruptcy resolution experts seek a buyer.
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