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NCLT admits SBI’s Insolvency plea against Jet Airways as it had huge outstanding debts

June 22, 2019[2019] 106 taxmann.com 267 (NCLT - Mum.)
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NCLT : Where Corporate Debtor Jet Airways (India) Limited had huge outstanding debt, both financial and operational, Corporate Insolvency Resolution Process (CIRP) filed by State Bank of India against it was to be admitted.It was also held that this matter was of National Importance and Corporate Debtor company having more than 20,000 employees, its revival at earliest by a viable Resolution Plan was essential

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