Lenders want Goyal to quit Jet's board; SBI gets ready to pick up stake

Family member may replace Naresh Goyal on airline's board

As lenders, led by State Bank of India, are firming up a way ahead for ailing private carrier Jet Airways, the future role of promoter Naresh Goyal, his stake in the airline and the composition of the board could steer the direction of talks between the two sides, sources in the banking industry said.

While bankers met top executives of Jet on Tuesday to discuss the financial state of the airline and how loans of over Rs 8,000 crore could be recast, it is learnt that SBI could possibly consider converting its debt to equity in the Goyal-led company. Also,