NIIF yet to take a call on investment in cash-strapped Jet Airways

The sovereign fund has not approved a plan or initiated due diligence

While lenders to Jet Airways are looking for a faster resolution to the crisis, the National Investment and Infrastructure Fund (NIIF) is yet to decide if it will invest in the distressed carrier. Sources said the board of the sovereign fund held two meetings over investment but did not approve any plan. 

“The board meetings were inconclusive. There was opposition from at least three members, which stalled the (investment) approval process,” said a person aware of the development. The board of NIIF has six members, which includes finance secretary Subhash Chandra Garg, IAS officer Rajaraman Kalyanraman, and NIIF Chief Executive Officer