The spat between the Jalan Kalrock Consortium (JKC) and the lenders of Jet Airways has escalated, with the former saying that the resolution professional’s diktat asking Sanjiv Kapoor to not use the CEO tag was null and void. JKC said the RP cannot take such a decision on his own and it must be passed by the monitoring committee.
In a letter dated January 10, the consortium requested the RP to share a copy of relevant minutes of the meeting where the monitoring committee decided to issue a letter to Kapoor, refraining him from using the designation of CEO of Jet Airways.
“In the event there exists no monitoring committee resolution which authorises you to write to Mr Kapoor, your letter under reference shall be considered as null and void and you are advised to refrain from communicating on behalf of Jet Airways until authorised by all required members of the monitoring committee,” it added.
The NCLT-appointed resolution professional of Jet Airways, Ashish Chhawchharia, had clarified earlier that Sanjiv Kapoor was appointed as the CEO-designate till the company is handed over to the consortium.
JKC and the lenders to erstwhile Jet Airways have been at a standoff at the NCLT. While JKC has said it has met all the conditions to take over the airline, the lenders have a contradictory view. An order is expected as early as next week.
A source, part of the monitoring committee, told businessline that the RP is not likely to respond to the matter. “The RP was in his purview to write the said letter in order to protect the company,” the person explained.
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