Jet Airways liquidator moves NCLAT against Boeing for $92.12 million refund
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- ✓The Jet Airways liquidator moved the NCLAT against Boeing to recover $92.12 million in advance payments for undelivered aircraft.
- ✓On Tuesday, the tribunal issued a notice to Boeing regarding the appeal.
- ✓This follows a September 11 NCLT order that rejected the liquidator's plea to get the money back for creditors.
Story at a Glance
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- MARKET
- Reported By
- Business Standard
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
The liquidator of Jet Airways has approached the National Company Law Appellate Tribunal (NCLAT), challenging an order that rejected his plea for the recovery of $92.12 million (approximately ₹873 crore) paid to Boeing as advances for aircraft that were never delivered to the airline.
A Bench comprising Justice Mohammad Faiz Alam Khan and Technical Member Naresh Salecha on Tuesday issued notice to Boeing after finding that the appeal warranted consideration.
Boeing's counsel accepted the notice and was granted two weeks to file a reply. The liquidator has been given a week thereafter to submit a rejoinder. The matter will be taken up in the first week of December.
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