Jet Airways crisis: Founder Naresh Goyal likely to submit bids today for stake in cash-strapped airline

Former Jet Airways chairman Naresh Goyal is likely to submit initial bids for a stake in the airline on Thursday, sources said

Press Trust of India April 11, 2019 13:32:48 IST
Jet Airways crisis: Founder Naresh Goyal likely to submit bids today for stake in cash-strapped airline
  • Naresh Goyal, the founder of Jet Airways, and his wife Anita Goyal last month stepped down from the board of the ailing airline, ceding majority control to the consortium

  • SBI Caps has extended the date for submission of bids to 12 April from 10 April earlier

  • The bidding norms allow Naresh Goyal to participate in the sale process

Mumbai: Former Jet Airways chairman Naresh Goyal is likely to submit initial bids for a stake in the airline on Thursday, sources said.

SBI Caps, which invited Expression of Interest (EoI) for stake sale in Jet Airways on 8 April, has already extended the date for submission of bids to 12 April from 10 April earlier.

SBI Caps has the mandate for Jet Airways' sale on behalf of the SBI-led consortium of domestic lenders to the debt-ridden private carrier.

Jet Airways crisis Founder Naresh Goyal likely to submit bids today for stake in cashstrapped airline

File image of Naresh Goyal. Reuters

It has put between 31 percent and up to 75 percent in the airline for investors.

"Naresh Goyal is expected to submit initial bids for Jet Airways sale today (Thursday)," a source close to Goyal said.

The bidding norms allow Goyal to participate in the sale process.

Goyal's response on the issue was awaited.

SBI chairman Rajnish Kumar last month said, "It could be a financial investor, it could be airline... including Naresh Goyal himself or Etihad. Nobody is barred from bidding or taking over the airline as per the rule."

Naresh Goyal, the founder of Jet Airways, and his wife Anita Goyal last month stepped down from the board of the ailing airline, ceding majority control to the consortium, following a reduction in their stake as per the resolution plan formulated by the lenders.

The airline currently owes Rs 8,000 crore to lenders, led by the SBI.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

SBI CBO exam 2020: Recruitment test on 28 November; check exam pattern, centre choice at sbi.co.in
India

SBI CBO exam 2020: Recruitment test on 28 November; check exam pattern, centre choice at sbi.co.in

There will be two sections — objective and descriptive — in the 250 mark exam. To answer the objective section, examinees will get two hours and half an hour will be allotted for descriptive section

SBI Apprentice recruitment 2020 application process begins at sbi.co.in; written exam in January 2021
India

SBI Apprentice recruitment 2020 application process begins at sbi.co.in; written exam in January 2021

Candidates applying for SBI apprentice recruitment should have completed graduation from a recognised university or institute by 31 October, 2020 and should be of a minimum age of 20 years