Lessons from resolution of Jet Airways
The company had received claims of nearly Rs 25,000 crore, of which the resolution professional admitted Rs 8,462 crore as legitimate claims. The financial creditors due was Rs 7,454 crore. They will, under the resolution plan approved by the National Company Law Tribunal (NCLT), get Rs 1,010 crore in five instalments, plus 9.5% equity in Jets new avatar.