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HDFC puts Jet's Mumbai office space for sale to recover Rs 414 cr

The office, spread over 52,775 sq ft carpet area, in Mumbai's suburban financial centre Bandra Kurla Complex (BKC), is on the fourth floor of the building 'Jet Airways Godrej BKC'

Press Trust of India  |  Mumbai 

Jet Airways

Mortgage lender has put up crisis-hit Airways' office space for sale with a reserve price of Rs 245 crore, as part of efforts to recover outstanding dues.

Airways, which temporarily shuttered operations on April 17, owes around Rs 414 crore to

"The borrower (Airways) has failed to repay the amount (Rs 414.80 crore) due to Ltd. Accordingly, HDFC Ltd has become entitled to enforce its mortgage over the immovable property," it said in a public notice.

The office, spread over 52,775 square feet carpet area, in Mumbai's suburban financial centre (BKC), is on the fourth floor of the building 'Godrej BKC'.

The e-auction of the office, with a reserve price of Rs 245 crore, is scheduled for May 15, according to the public notice.

The distressed airline, which had more than 120 planes in its fleet, has been grappling with financial woes. The full service carrier has defaulted on various payments, including salaries to employees.

As part of a resolution plan, State Bank of India-led consortium of domestic lenders have sought bids for stake sale in the airline.

Four entities -- Etihad Airways, TPG Capital, and (NIIF) -- are learnt to have shown interest in picking up stake in The details of the bidders are expected to be known on Friday.

Earlier this week, a grouping of Jet Airways' pilots moved the Supreme Court seeking direction to the SBI to provide the assured interim finance for restarting operations.

The petition filed by the National Aviators' Guild has also sought a direction to the Centre and the Director General of Civil Aviation (DGCA) to disallow slots of to other airlines on the permanent basis.

First Published: Thu, May 09 2019. 16:41 IST
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