Jet Airways falls 29% ahead of NCLT hearing on insolvency plea

In the past week, the stock has tanked 74 per cent from level of Rs 110 after the BSE and NSE ordered to pull the scrip out from Futures and Options (F&O) trading from June 28.

Shares of Jet Airways (India) hit a fresh all-time low of Rs 28.60, down 29 per cent, in early morning trade on the National Stock Exchange (NSE) on Wednesday ahead of National Company Law Tribunal (NCLT) hearing later in the day on insolvency plea filed by the lenders.

The State Bank of India, 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 NCLT, Mumbai.

Ashish Chhawchharia of advisory firm Grant Thornton has been selected interim resolution professional by the SBI and