RP of Jet Airways wants NCLT to ask lenders for interim financing

The second CoC meeting will be held next week wherein the settlement proposal will be presented for approval

The resolution professional (RP) of the defunct Jet Airways has sought the National Company Law Tribunal's (NCLT's) intervention to ease the process of acquiring interim financing from the committee of creditors (CoC). The RP asked the tribunal to direct the CoC to release the interim financing that was agreed upon in the first CoC meeting of the airline.

In the first CoC meeting, lenders had considered extending a $10-million (about Rs 70-crore) loan to Jet. Since the funds were not released, the RP is seeking financing for maintenance of the assets of the airline.

On Friday, the RP apprised the NCLT on