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NCLT allows Jet Airways to sell office in Mumbai's Bandra Kurla Complex

The property is non-core asset of the grounded airlines, which was never used by Jet as part of its airlines business

Jet Airways
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The property is non-core asset of the grounded airlines, which was never used by Jet as part of its airlines business

Press Trust of India Mumbai
The NCLT has allowed Jet Airways to sell its premises in Bandra Kurla Complex (BKC) to settle Rs 360 crore dues of mortgage lender HDFC, clear overseas debt and cover corporate insolvency resolution process costs.

Jet Airways' insolvency resolution professional Ashish Chhawchharia had moved the NCLT to seek approval to sell its third and fourth floor in Godrej BKC building to clear overseas debt to transfer the title of six aircraft under Export-Import Bank of the US to the corporate debtor, which would help in maximising value of the defunct airline.

The insolvency professional had sought permission of the tribunal

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First Published: Jun 14 2020 | 4:49 PM IST

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