A monitoring committee has been formed, comprising representatives of financial creditors, successful resolution applicant and the erstwhile independent resolution professional, to oversee the implementation of the approved resolution plan of Jet Airways. On June 22, the National Company Law Tribunal (CLT), Mumbai, had approved the bankrupt airline’s resolution plan, submitted by a consortium of Murari Lal Jalan and Florian Fritsch.  

Kuldeep Sharma has been appointed the company secretary of the airline with effect from August 2, 2021. He will also be the compliance officer according to Regulation 6 of SEBI (LODR) Regulations, 2015. 

The seven-member monitoring committee will be carrying out the day-to-day operations and management of Jet Airways till the resolution plan proposed by the Jalan Kalrock consortium is fully implemented. 

Meanwhile, with the NCLT’s approval, the Corporate Insolvency Resolution Process (CIRP) of the airline has concluded, and Ashish Chhawchharia has ceased to be the resolution professional of the company from June 25, 2021. 

On June 25, the NCLT had published the written order, approving the Jalan Kalrock consortium’s resolution plan. The approval is subject to certain directions. While clearing the resolution plan, the NCLT had also made it clear that it would not give any direction on the issue of airport slots for the airline. It had cited that the matter would be handled by the government or the appropriate authority concerned. 

On June 22, the Jalan Kalrock consortium had said that it would decide on the next steps after receiving the NCLT’s written order and emphasised that it would work with the aviation authorities to see the airline, which had suspended operations in April 2019, taking wings again.