While the court is expected to admit (or dismiss) a petition within 14 days, it may take longer. If lenders do not approve the resolution plan, the company is pushed towards liquidation.“It’s almost impossible for an airline to survive this process. Already, there are questions whether the bidders would be genuinely interested following the suspension of operations... They would take a hard look at the total liability and all outstanding amounts, not just the ones in which the company has defaulted,” said another person. Banks’ total loan outstanding with Jet is more than Rs 8,000 crore.

Source: Economic Times April 22, 2019 01:18 UTC