Jet Airways insolvency: Of Rs 25,000 crore claims filed, Rs 8,400 crore admitted so far

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Updated: July 19, 2019 6:59:15 AM

Domestic banks and financial institutions have claimed over Rs 6,441 crore, while foreign banks have claimed around Rs 1,569 crore. Claims of workmen and employees stood at Rs 443.56 crore. Operational creditors, other than workmen and employees, have submitted claims worth Rs 12,373.59 crore.

Jet Airways insolvency, Jet Airways news,Jet Airways stock, Jet Airways crisi, Jet Airways share, Jet Airways latest news, naresh goyal, ncltThese claims are yet to be verified by the IRP. (Reuters Photo)

The interim resolution professional (IRP) for Jet Airways has received claims worth Rs 24,887.93 crore against the grounded airline till July 4, according to the list of creditors uploaded on the company’s website.  Of these claims, the IRP has so far admitted claims worth Rs 8,462.78 crore and rejected claims of over Rs 1,380 crore. Claims worth over Rs 15,000 crore are pending verification.

Domestic banks and financial institutions have claimed over Rs 6,441 crore, while foreign banks have claimed around Rs 1,569 crore.
Claims of workmen and employees stood at Rs 443.56 crore. Operational creditors, other than workmen and employees, have submitted claims worth Rs 12,373.59 crore. These claims are yet to be verified by the IRP.

Claims continue to be verified and the list will be updated about once every three weeks, the document said. On June 20, the National Company Law Tribunal initiated corporate insolvency proceedings against the defunct airline following an application submitted by State Bank of India. The tribunal had asked that the process be fast-tracked as Jet Airways is a matter of “national importance”.

The first fortnightly report was submitted to the tribunal on July 5 and the first meeting of the committee of creditors was held on July 16. The IRP is expected to invite expression of interest for the sale of the airline by July 20. The airline halted operations on April 17 after lenders refused to provide emergency funding.

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