Jet Airways: Insolvency Resolution Process Deadline Extended Till Aug 21

At a time when fresh bids have been invited for the grounded Jet Airways, the deadline for completion of its insolvency resolution process has been extended till August 21 due to the nation-wide lockdown, imposed to contain the spread of the coronavirus (Covid-19) pandemic, Business Standard reported. The full service carrier, which shuttered operations in March 2019, is under Corporate Insolvency Resolution Process (CIRP) and the time period given for its completion was to end on June 13. According to a regulatory filing, 69 days of lockdown period from March 24 to May 31 would be excluded for computing the CIRP deadline. The nationwide lockdown to curb spreading of coronavirus infections was announced on March 24 and has been extended thrice. It is now to end on May 31. Read more