The Insolvency Resolution Professional (IRP) appointed by the National Company Law Tribunal (NCLT) has told the pilots and staff of Jet Airways that their salary dues may not be settled fully as the company is undergoing the insolvency process.
In a meeting with the Jet management the IRP, Ashish Chhawchharia, Partner, Grant Thorton, charted out two possible scenarios for clearing dues.
If the insolvency process is successful and the IRP is able to bring in a new investor, then the past dues will depend on the amount or percentage of the amount that the successful bidder is willing to pay, which may or may not be in full. However, if the resolution process is not successful, the company will go into liquidation and the employees dues wil…
Read the full article at: https://www.thehindubusinessline.com/economy/logistics/bitter-message-to-jet-staff-irp-says-salary-dues-may-not-be-settled-fully/article28118216.ece
