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New Delhi: The National Company Law Tribunal (NCLT) has dismissed the plea of grounded air carrier Jet Airways’ liquidator seeking a refund of Rs 500 crore from global aerospace manufacturer Boeing, observing that the matter involves a contractual dispute.
A two-member Mumbai bench of NCLT said there was a contractual dispute over the pre-delivery/advance payments, requiring detailed adjudication and evidence, and therefore could not be decided by the tribunal under the Insolvency and Bankruptcy Code (IBC).
“The disputed questions of fact and law are required to be tested and determined by a full-fledged trial, and the Tribunal’s jurisdiction under Section 60(5) of the IBC is circumscribed and restricted to…