IT Correspondent
Mumbai, July 22:
“Kalrock Capital”( a global financial advisory firm) and Abu Dhabi based “Imperial Capital Investments LLC” (ICIL) submitted their bids, on the last day to submit bids to salvage debt ridden Jet Airways on Tuesday.
The first bid came from ICIL, Haryana-based Flight Simulation Technique Centre Pvt Ltd (FSTCPL) and Mumbai-based Big Charter Pvt Ltd (BCPL). The second bid that came in before the deadline ended at 6 PM on Tuesday was from a consortium of UK-based financial advisory firm “Kalrock Capital” Partners, along with an individual by the name of Murari Lal Jalan, a resident of Dubai.
As many as 12 suitors had come forward in the fourth round of bidding for the airline and submitted Expressions of Interest, but only 4 of them made the eligibility cut. The four final shortlisted suits who were invited to submit bids included the two consortiums led by “Kalrock Capital” and “ICIL”.
The other two, who did not submit bids as the deadline ended included a Canadian entrepreneur by the name of Sivakumar Rasiah, and Kolkata based Alpha Airways.
“The revised timeline for completion of the Corporate Insolvency Resolution Process (CIRP) of Jet Airlines, is now 21 August, 2020, subject to any further extension of the lockdown by the Maharashtra or the Central Government.
The Jet Airways has received claims of over Rs 37,300 crore under National Company Law Tribunal (NCLT) from various creditors. Of these, the resolution professional has admitted claims of over Rs 15,900 crore. This also includes claims of over Rs 8,000 crore from a clutch of banks led by State Bank of India, Yes Bank, Punjab National Bank and others.
