Jet Airways shareholders reject FY19 and FY20 accounts ahead of NCLT ruling

Institutional investors lead rejection brigade as Naresh Goyal abstains; proposal to appoint Sharp and Tannan as statutory auditors approved

Shareholders of Jet Airways have rejected the company’s FY19 and FY20 financial accounts.

The airline founded by Naresh Goyal suspended operations in April 2019 and has been under insolvency for nearly two years. The National Company Law Tribunal is expected to pass its judgment soon on a proposal to revive the airline.

But ahead of the NCLT verdict, the airline’s shareholders voted against resolutions to approve audited accounts at the annual general meeting on Tuesday.

The financial accounts for year ending March 2019 were finalised last July and those of year ending March 2020 were finalised in February.

The audited