Grounded airline Jet Airways has now been dragged to the National Company Law Tribunal (NCLT) by two creditors - Shaman Wheels and Gagar Enterprises. If the NCLT agrees to hear the matter, then other lenders like SBI may join the aggrieved parties. The banks have been trying to keep the Jet Airways out of the insolvency court so that they can recover the maximum dues from the airline. If the NCLT agrees to hear the plea, then the banks may have to bear a huge haircut on their dues. As of March 31, 2018, Jet Airways recorded a debt of Rs 8,000 crore and a loss of more than Rs 14,000 crore.

Source: dna June 10, 2019 12:44 UTC