Jet Airways to become first Indian company to undergo Cross Border Insolvency proceedings1 min read . Updated: 18 Oct 2019, 10:42 AM IST
- NCLAT had allowed the Dutch court administrator of Jet Airways to attend the meetings of the bankrupt airline's CoC
- The grounded Jet Airways owes over ₹8,000 crore to its lenders
New Delhi: In a major breakthrough for India's insolvency mechanism which is still in its evolving stage, Jet Airways would be the first Indian company to undergo insolvency proceedings under the Cross Border Insolvency Protocol along with the Insolvency and Bankruptcy Code (IBC) of India.
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