NCLT to hear grounded Jet Airways' insolvency plea on Wednesday

Dutch administrator to join proceedings after local court declares airline bankrupt

State Bank of India (SBI), the lead banker to Jet Airways, on Tuesday filed an insolvency plea against the crisis-hit airline under Section 7 of the Insolvency and Bankruptcy Code at the National Company Law Tribunal (NCLT), Mumbai.

The tribunal will hear the plea on June 19. Ashish Chhawchharia of advisory firm Grant Thornton has been selected interim resolution professional by the SBI and one of the first tasks before him would be to gather details of the airline’s assets, aircraft, and employees on the rolls. The interim resolution professional would need to find out