Jet staff want to be made party to resolution process; move NCLT

Forum Gandhi | | Updated on: Nov 16, 2020

Seek details of the plan submitted by Kalrock-Jalan team

Jet Airways’ employee union, Jet Aircraft Maintenance Engineers Welfare Association (JAMEWA), has filed an interlocutory application with the Mumbai Bench of the NCLT seeking to be made a party to the debt-resolution process.

The union has alleged that the resolution plan submitted by the Murarilal Jalan and Kalrock Capital consortium has illegalities and, therefore, the plan has not been shared with the employees despite repeated requests made to the Resolution Professional managing Jet Airways.

RP’s stance

JAMEWA had written a letter to Ashish Chhawcharria, the Resolution Professional and his advocates from AZB law firm asking for a copy of the offer made by the Jalan-Kalrock combine. However, the RP declined to provide the information claiming that it was against the IBC norms. Rahul Kamerkar, appearing on behalf of JAMEWA, said the lawyers have misinterpreted the IBC norms. “The rules of natural justice dictate that a resolution plan filed in a court be provided to all directly affected parties. My client’s 500+ members and other employees are the most affected parties since their future and lives are at stake,” he said.

A copy of the application filed by JAMEWA has been reviewed by BusinessLine . In its letter, JAMEWA has alleged that “the RP knows that the applicant is likely to point out the said illegalities to this Tribunal,” and that is the reason why the plan is being hidden from them. It added that the application has been filed to ensure that the interests of the member-engineers are not compromised by the RP.

When contacted, Amit Kelkar, Vice-President of JAMEWA, said that “the Union will not like to comment on the matter.”

JAMEWA has been advised by its advocate that if the application does not get a hearing, or if it does get a hearing but orders are not passed before the hearings on the Resolution Plan start, then it should approach NCLAT, or even the SC.

“If this application is allowed, it will benefit the resolution professional and resolution applicant. Else my client might have to challenge the Resolution Plan after it is approved by the NCLT, which will be like a ticking time bomb for all parties, leading to a lot of uncertainty,” Kamerkar added.

Chhawcharria did not respond to requests seeking his comments on the application filed by the employees union.

Published on November 16, 2020
This article is closed for comments.
Please Email the Editor

You May Also Like

Recommended for you