Jet Airways clarifies on buzz claiming Kalrock Capital - Murari Lal Jalan consortium bids identified as winner

Jet Airways creditors committee have identified two bidders for the airline's resolution.

Oct 08, 2020 05:10 IST India Infoline News Service

Private carrier Jet Airways which is currently undergoing resolution process, on Thursday clarified over a buzz claiming that Karlock Capital and Murari Lal Jalan led consortium was chosen as the successful applicant by the creditors' committee. The airline has called the rumour false.

Clarification was sought from the airline about a news article in the Economic Times stating that "London-based Kalrock Capital says it has won the bid for Jet Airways."

The news article said Kalrock Capital, a London-based asset management company said it, along with a UAE investor Murari Lal Jalan has been chosen as the new owners of the bankrupt airline Jet Airways.

Jet Airways today clarified saying, "This is to clarify to all market participants and stakeholders that such news items are false and misleading and must be disregarded. The Committee of Creditors has not concluded the e-voting process under section 30(4) of the Insolvency & Bankruptcy Code. The Resolution Professional shall make appropriate disclosures before the stock exchange after the voting process has been duly concluded."

The airline also mentioned that the consortium has intimated the Resolution Professional that it has not made any statement claiming to have been chosen as the successful resolution applicant.

Jet Airways creditors committee have identified two bidders for the airline's resolution.

The Haryana-based Flight Simulation Technique Centre (FSTC) in a consortium involving Big Charter and Imperial Capital Investments are identified as the bidder for the resolution process. Big Charter and FSTC are owned by the former Jet Airways pilot Sanjay Mandavia. The second consortium is of Kalrock Capital and entrepreneur Murari Lal Jalan.

On Sensex, Jet Airways share price finished at the upper circuit limit of Rs30.05 per piece up nearly 5%. 

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