New Delhi:Shares of Jet Airways India Ltd on Tuesday declined as much as 3.73% to 289.95 per share on BSE following reports that the ministry of corporate affairs has opened a preliminary inquiry into the carrier. At 12.33pm, Jet Airways shares traded 2.94% lower at 292.35. The shares of the company opened on a weak note at 297.80.

As per the media reports, the Mumbai Registrar of Companies (RoC) will inspect Jet’s books of accounts. In a regulatory filing, however, the company today said it “has not received any communication from the Ministry of Corporate Affairs in this regard".

Jet Airways is facing financial stress and on 9 August the company held off from announcing the unaudited financial results for the June quarter. Both BSE and NSE have sought an explanation from the company on this. Meanwhile, a meeting of the board of directors is scheduled to be held on 27 August to consider and approve the unaudited financial results for the first quarter ended 30 June.