MUMBAI: Mortgage lender HDFC on Thursday moved the NCLT seeking to keep the Jet Airways headquarters in the city out of the bankruptcy process. The HDFC counsel told the National Company Law Tribunal that three floors of the building are mortgaged with the lender. Last month, NCLT had admitted the insolvency petition filed by the lenders' consortium led by State Bank against Jet Airways which stopped operations on April 17 after running out of cash. The consortium of 26 bankers led by State Bank took the grounded Jet Airways to NCLT to recover their dues of over ₹8,500 crore. Thus it has over ₹36,500 crore of dues and being a services company negligible assets to recover.

Source: Mint July 04, 2019 11:15 UTC