Logistics

Jet approaches NCLT against lessors’ move to de-register aircraft, eviction from HQ

Our Bureau Mumbai | Updated on July 05, 2019

The court adjourned two other applications filed on behalf of Lucky Star, the licensor of Siroya Centre, the headquarters of Jet Airways and HDFC, to whom the BKC property has been mortgaged   -  Francis Mascarenhas

A lessor has applied to DGCA to deregister an aircraft; building owner wants airline to vacate its headquarters

Jet Airways’ Insolvency Resolution Professional (IRP) has approached the Mumbai bench of NCLT against aircraft lessors trying to deregister aircraft leased to the debt-laden airline. It has also sought the NCLT’s intervention against the owner of the building that houses its headquarters, after an attempt was made to evict the company.

The counsel representing the IRP moved an application requesting the bench to pass an order refraining the Directorate-General of Civil Aviation (DGCA) from accepting any deregistration applications till the insolvency process is through, because a moratorium on all assets has been put in place from June 20.

This came after a lessor moved an application with the DGCA to deregister aircraft number VPJEW which was grounded in Amsterdam five days ago. The counsel pointed out that a large part of the lease has been paid. The bench in this matter passed an order seeking response from the DGCA on the same by July 19.

The court also adjourned two other applications filed on behalf of Lucky Star, the licensor of Siroya Centre, the headquarters of Jet Airways and HDFC, to whom the BKC property has been mortgaged. Both have been kept on hold till July 23rd.

Second progress report

The Counsel representing the IRP informed the bench that the first Committee of Creditors meeting is scheduled on July 15 and requested time till July 23rd to submit the second progress report. The first progress report was submitted by the counsel in a sealed envelope.

Meanwhile, employees of JetLite, the low cost carrier of Jet Airways also filed an application with the NCLT as the salaries of JetLite employees was not paid till June.

Published on July 05, 2019

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